Adar Poonawalla, the Serum Institute CEO, who has gone from vaccine factories to splashy consumer-investment headlines, has quietly stepped into the spotlight of India’s hottest sporting takeover story. A single, carefully phrased post on X, “At the right valuation, @RCBTweets is a great team”, lit the fuse on widespread media reports that Poonawalla is the front-runner to acquire Royal Challengers Bengaluru (RCB), currently owned via United Spirits, a Diageo-controlled company.
At the right valuation, @RCBTweets is a great team…
— Adar Poonawalla (@adarpoonawalla) October 1, 2025
The Numbers Everyone’s Talking About: $2 Billion and Citi at the Table
Multiple outlets reporting on the chatter suggest Diageo is testing the market with an asking price in the region of $2 billion for RCB. This figure would make the franchise one of the most valuable single-team assets in cricket history if achieved. These reports also say global investment bank Citi has been appointed as transaction adviser to oversee the potential sale.
Why USD 2bn Feels Plausible
The asking price feels plausible to some analysts because RCB’s brand jumped after the club finally won the IPL in 2025. According to recent IPL valuation studies, RCB sits near the very top of IPL team brand charts, giving weight to a sky-high asking price. Houlihan Lokey and other valuation studies have flagged the IPL’s rapid brand growth this year, which helps explain why a buyer might consider paying a steep premium.
If this proposed sale is completed, it would represent a valuation more than double that of the most recently sold franchise, Lucknow Super Giants, which was bought by the RPSG Group for Rs 7,090 crore.
The Tweet That Started the Flame-and Lalit Modi’s Nudge
Poonawalla’s X message was short and non-committal, but it landed at the right moment and was amplified by industry voices. Former IPL commissioner Lalit Modi publicly suggested RCB would be a “prime investment” and floated the idea that global or sovereign funds would line up for the franchise, adding volume to the rumours. Those two social-media pushes together moved this story from “scoop” to “serious market chatter.”
IPL Founder Lalit Modi: RCB might be sold very soon! pic.twitter.com/uE39Rtbek3
— r/RCB (@rcb_reddit) September 30, 2025
Who Owns RCB Today-and How We Got Here
RCB was originally bought at the 2008 IPL auction by Vijay Mallya’s UB Group for about $111.6 million. Over the next decade, Diageo-the London-listed spirits giant-built a controlling stake in United Spirits, and by 2014 it became the majority shareholder. That is how RCB came under Diageo’s effective control. Any sale now would therefore be handled via United Spirits and Diageo’s corporate channels.
What a Poonawalla Takeover Would Mean
A Trophy Plus a Brand: RCB’s recent on-field success makes it far more than a nostalgia play; it is a modern media property with global reach, strong sponsorship potential, and huge merchandising upside. Valuations in the IPL are driven by media rights, sponsorship, and fan engagement metrics-all areas where RCB scores highly.
Strategic Signalling for India’s Billionaire Class: Buying an IPL franchise is now a marquee play for Indian corporate names wanting global cultural visibility (and access to a fast-growing sports-media market). Poonawalla would join a list of high-profile Indian sports owners and deepen the trend of consumer-facing tycoons taking major stakes in sports.
Corporate Complexity: Any deal will need to navigate Diageo’s approvals, Indian regulatory rules (including those related to advertising of alcohol in sport), and the BCCI/IPL’s ownership/approval norms-all standard but material hurdles.
Benchmarks: How This Compares to Other Big Sports Sales
To understand the scale: global sports franchise sales have been hitting jaw-dropping numbers recently. The Los Angeles Lakers sale in 2025 reportedly topped $10 billion, and other marquee US team sales (Boston Celtics, Washington Commanders) have also set a very high bar. So, while $2bn for RCB is huge for cricket, it sits well below the biggest US sports transactions-but would still be transformational for IPL valuations and set a new Indian benchmark.
What’s Next-A Cautious Roadmap
Formal Process: If Citi is indeed the adviser, expect a brief period of due diligence followed by a formal sale process (expressions of interest, shortlisted bidders, binding offers). Media and markets will watch United Spirits filings and any official Diageo statements closely.
Public Confirmations: At the moment, neither Diageo/United Spirits nor Poonawalla have put out a detailed confirmation beyond routine denials of speculation to some outlets. The timeline will depend on internal approvals and the bidder’s financing plans.