RCB Sale: The most-watched boardroom battle in Indian cricket just got its final two contestants. And with a March 31 deadline looming, the clock is ticking fast.
Royal Challengers Bengaluru — the franchise with the largest fan base in the IPL, a brand that has outlasted its own trophy cabinet for nearly two decades — is about to find its new owner. And on Tuesday, March 17, the field narrowed dramatically.
Avram Glazer’s Lancer Capital, co-owner and co-chairman of Manchester United, has withdrawn interest from buying RCB — leaving a straight two-horse race between Swedish global investment organisation EQT and Ranjan Pai’s consortium backed by Kohlberg Kravis Roberts & Co. (KKR) and Temasek.
Table of Contents
RCB Sale — The Key Numbers
| Detail | Info |
|---|---|
| Current Owner | Diageo (United Spirits) |
| Sale Deadline | March 31, 2026 |
| Frontrunner | EQT (equity firm, Sweden) |
| EQT’s reported bid | ~$2–$2.1 billion (≈ ₹18,463–19,386 crore) |
| Other bidder | Ranjan Pai’s consortium (KKR + Temasek) |
| Glazer’s Lancer Capital | Did not submit binding bid — withdrew |
| BCCI approval expected | October 2026 AGM |
| RCB brand value | Highest among all IPL teams |
The Glazer Surprise — And Why It Matters
This was supposed to be a high-profile, multi-bidder auction for cricket’s most glamorous franchise. The Glazers had reportedly been weighing a bid in the range of $1 to $1.8 billion. However, when the time came for the final binding bid, Lancer Capital didn’t even submit one — despite making the shortlist.
It’s a stunning exit from a family synonymous with owning marquee sports properties. The Glazers also dropped their interest in Rajasthan Royals after BCCI rules make it clear that a single entity cannot hold ownership stakes in more than one IPL franchise simultaneously.
EQT vs Ranjan Pai — Who Wins RCB?
At the moment, EQT appears to be the frontrunner, with reports of a binding bid in the range of $2 to $2.1 billion. That’s an extraordinary valuation for a franchise that has never won an IPL title — a testament to just how powerful the RCB brand is, driven by Virat Kohli’s global appeal and an unmatched fanbase.
Ranjan Pai is no small player either. The chairman of Manipal Education and Medical Group is one of India’s most respected healthcare and education entrepreneurs, and his consortium brings both financial muscle and institutional credibility. The exact figure of Pai’s bid remains unknown, but it’s safe to assume the number will be close to EQT’s offer.
The Timeline: Fast, But Not Final
Diageo, the current owners of RCB, have set March 31 as the deadline for discussions — unusually tight for a transaction of this scale, where ownership transfer dialogue typically takes 30 to 45 days.
But crucially, whoever wins the bidding war won’t formally become the new owner overnight. The BCCI must approve the sale, and that cannot happen before October 2026 when the board holds its AGM — just as last year’s AGM took place on September 28 in Mumbai.
So while the new owner may be decided by the end of March, the official handover is still months away. RCB fans can rest assured — Virat Kohli will still be walking out in red and gold on March 28 regardless of who’s signing the cheques.
For official BCCI updates on IPL franchise ownership, visit bcci.tv.
Read more: RCB Finally Goes Home: M Chinnaswamy Stadium Gets Green Light for IPL 2026
