The Royal Challengers Bengaluru (RCB) has been formally placed on sale with the homeowners of the franchise, Diageo, hoping to search out new homeowners by March 31, 2026. The RCB homeowners have began the sale course of they usually have put out the disclosure.
In a communication despatched to the Bombay Inventory Trade (BSE), the UK firm known as the method a strategic assessment of the Funding Royal Challengers Sports activities Pvt Ltd (RCSPL), an entirely owned firm of United Spirits Ltd., a subsidiary of Diageo. Within the letter, the corporate mentioned
“The USL is initiating a strategic assessment of the funding in its wholly owned subsidiary, RCSPL. RCSPL’s enterprise includes possession of the Royal Challengers Bengaluru (RCB) franchise staff that take part within the males’s Indian Premier League (IPL) and Girls’s Premier League (WPL) cricket tournaments hosted by the Board of Management for Cricket in India (BCCI) yearly,” mentioned the assertion, in keeping with Cricbuzz.
Within the cowl letter to the BSE, Diageo and USL mentioned they’re making the disclosure below regulation 30 of the Securities and Trade Board of India (Itemizing Obligation and Disclosure Requirement). The disclosure additionally acknowledged that they are hoping to finish the method by March 31 subsequent 12 months.
Praveen Someswar, managing director and CEO of USL, mentioned that whereas RCPSL has been a priceless asset to the corporate, it’s non-core to their essential enterprise.
“RCSPL has been a priceless and strategic asset for USL. Nevertheless, it’s non-core to our alcobev enterprise. This step reinforces USL’s and Diageo’s dedication to proceed reviewing its India enterprise portfolio to allow sustained supply of long-term worth to all its stakeholders, whereas retaining RCSPL’s greatest curiosity in thoughts,” mentioned Someswar.
INTEREST IN ACQUIRING RCB
It was reported by Cricbuzz earlier that there have been numerous events in buying RCB if the franchise was being placed on sale. A personal funding agency within the US is likely one of the events with JSW group being one other one.
The Adani Group, Adar Poonawalla of Serum Institute of India and Delhi-based Ravi Jaipuria of Devyani Worldwide Group have additionally registered their curiosity in buying RCB.
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