IPL Giants Royal Challengers Bangalore and Rajasthan Royals Set for Potential Sale Amid Billion-Dollar Bids

Two prominent teams from the Indian Premier League (IPL), Royal Challengers Bangalore (RCB) and Rajasthan Royals (RR), are preparing for a sale. Major global investors, including Avram Glazer, co-owner of Manchester United, are reportedly preparing bids exceeding one billion dollars to acquire these two franchises.

The estimated valuation of Bangalore and Rajasthan Royals could potentially surpass the combined sale price of the Lucknow and Ahmedabad teams ($1.69 billion) in 2021. Glazer's Lancer Capital, Ranjan Pai of the Manipal Group, Adar Poonawalla of the Serum Institute, the Times of India Group, and Premji Invest are among the major entities shortlisted for the Bangalore acquisition. Five investors have been shortlisted for Rajasthan.

Currently, Bangalore is owned by the multinational liquor company Diageo, while Manoj Badale's Emerging Media holds a majority stake in Rajasthan Royals. Diageo aims to conclude the sale process for RCB by March 31, citing that cricket is not their core business. Bangalore is assessed to be valued between $1.2 billion and $1.8 billion, while Rajasthan is estimated to be valued between $1.2 billion and $1.4 billion.

When the IPL commenced in 2008, RCB was acquired for $111.6 million and Rajasthan for $67 million. The current valuation of these teams has seen a significant surge. If the sale process is successful, the Board of Control for Cricket in India (BCCI) will receive a 5 percent share of the sale proceeds. It is reported that the final bids will be invited within March.