Royal Challengers Bengaluru (RCB), one of the most beloved franchises in the Indian Premier League (IPL), has found itself at the center of intense speculation. Over the past week, reports have emerged suggesting that Diageo India, the Indian arm of the UK-based liquor giant Diageo Plc, is considering selling the team. These rumors have triggered widespread media attention, investor curiosity, and heated debates among cricket fans across the country.
Diageo, however, has formally stepped in to cool the fire. In an official filing to the Bombay Stock Exchange (BSE) on June 10, the company clearly stated that these reports are speculative in nature and that no such discussions are underway. The letter, signed by Mital Sanghvi, Company Secretary at Diageo India, stressed that the company is not pursuing any sale of the franchise at this time.
But while the statement appears categorical, it has done little to end the chatter. Instead, it has raised a new question: If not now, then when?
🚨 RCB owner Diageo Plc is exploring options for a potential sale of IPL team Royal Challengers Bengaluru, valued at up to $2 billion. (ET) pic.twitter.com/KFxQMefiUT
— Indian Tech & Infra (@IndianTechGuide) June 10, 2025
The Market Reacts — And Investors Take Notice
Despite the denial, the market responded swiftly. Shares of United Spirits, the publicly traded company that holds ownership of RCB, experienced a noticeable uptick following the Bloomberg report. This rally was not coincidental. It reflected growing investor confidence in the valuation and monetization potential of IPL franchises—especially one with RCB’s stature.
Investors understand the value of brand equity, and RCB has no shortage of it. With a massive fan base, marquee players, and now, their first-ever IPL title win, the team has become more than just a cricket franchise—it’s a marketing juggernaut. And in a market like India, where cricket dominates the cultural landscape, owning an IPL team is not just a sporting investment; it’s a strategic business move.
A $2 Billion Price Tag — Too Much or Just Right?
The rumored $2 billion price tag for RCB has stirred both excitement and skepticism. On one hand, critics argue that the figure seems excessive. Just last year, Torrent Group acquired Gujarat Titans for approximately $1 billion. That team, while promising, was only a year old.
On the other hand, several industry veterans believe the $2 billion valuation is justified—perhaps even conservative. One of the most vocal supporters of this figure is none other than Lalit Modi, the founder of the IPL. According to him, RCB’s long-standing presence in the league, their star-studded roster, and their unparalleled fan engagement make them one of the most valuable sports assets in India.
And he may have a point. While Gujarat Titans are a rising force, RCB commands loyalty that’s been built over more than 15 years. This emotional investment from fans, combined with recent success, boosts the brand’s overall worth significantly.
A Championship Win Followed by Tragedy
RCB’s dramatic turnaround in the 2025 season culminated in their first-ever IPL title win on June 3—a moment of jubilation for the team and its fans. But joy soon turned to sorrow. During the victory celebrations in Bengaluru, a tragic incident occurred on June 4, resulting in the loss of 11 lives and leaving many more injured.
This tragedy has cast a shadow over what should have been a celebratory time for the franchise. For Diageo, the incident has added layers of reputational risk and public scrutiny. Some analysts suggest that the company, as a publicly listed entity with global visibility, might feel compelled to reconsider its association with the franchise—not because of performance, but because of the unpredictable risks tied to such large-scale public emotions and events.
Silence Speaks Louder Than Words
What’s also intriguing is the silence. Since the incident, RCB officials have been largely unresponsive to media inquiries. Cricbuzz, among others, has reached out to Diageo for further comments but received no response. This silence has done little to ease speculation. On the contrary, it has intensified it.
In public relations, silence is often a strategy—sometimes to buy time, sometimes to control the narrative. But when emotions are running high and fans are desperate for clarity, silence can be misinterpreted as secrecy or avoidance.
Why RCB Could Be the Crown Jewel of the IPL
From a business perspective, RCB offers a rare combination of legacy, reach, and recent success. With star players, international attention, and one of the largest fan followings in the league, the team is primed for exponential growth. In today’s digital-first, content-hungry world, a brand like RCB is capable of generating revenue far beyond traditional match-day income—think merchandising, streaming, NFTs, brand partnerships, and global licensing deals.
Moreover, IPL itself has matured into a global product, attracting investors from tech, finance, media, and private equity. For many, owning a team like RCB is akin to owning a piece of India’s cultural heartbeat. And that kind of opportunity doesn’t come around often.
What Diageo’s Denial Really Means
While Diageo has labeled the reports as speculative, it’s worth noting the carefully crafted language of their response. The company stated that it is “not pursuing any such discussion”—a present-tense statement that leaves the future wide open. There was no definitive declaration that the team will never be sold. For seasoned readers of corporate communications, this kind of wording suggests flexibility, not finality.
In fact, Bloomberg’s own report indicated that sources close to the matter described ongoing conversations as “exploratory” and noted that “no decision is final.” In the world of billion-dollar deals, this is standard procedure—deals are floated, tested, evaluated, and sometimes shelved until conditions are right.
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🚨 NEW RCB OWNERS EXPECTED. 🚨
— Mufaddal Vohra (@mufaddal_vohra) June 10, 2025
– Current RCB owner Diageo Plc exploring possibilities for a potential sale of RCB, valued at up to $2 billion. (Bloomberg). pic.twitter.com/auOSki08UV
Looking Ahead: Will RCB Be Sold?
So, will RCB eventually change hands? It’s too early to say. What’s clear, however, is that the franchise’s value is at an all-time high, and interest in IPL ownership has never been greater. For Diageo, the decision will likely come down to timing, valuation, and strategic alignment with their global brand priorities.
As fans, we may hope that RCB remains as it is, led by familiar faces and backed by stable ownership. But as analysts, we recognize the immense financial logic that might eventually push Diageo to sell. Until then, we’ll be watching every move—and every silence—very closely.
