A new bidder has entered the race to acquire the Royal Challengers Bengaluru franchise. Swedish private equity firm EQT Group is reportedly preparing a offer that could value the team at around around $2-2.1 billion.
If confirmed, this bid would surpass the $1.8 billion non-binding proposal previously submitted by Avram Glazer through Lancer Capital. The deadline for final binding bids in the ongoing sale process is March 16.
The franchise is currently under the ownership of United Spirits Limited, the Indian branch of the global beverage company Diageo. In November 2025, the company announced it would sell its stake in Royal Challengers Sports Private Limited (RCSPL) as part of a strategic review of investments.
RCSPL manages the Royal Challengers Bengaluru teams, including the women's franchise.
After receiving the initial non-binding offers, approximately nine to ten bidders were shortlisted. Among the names reported to have advanced were Adar Poonawalla, CEO of Serum Institute of India, Ranjan Pai, chairman of the Manipal Group, EQT, and Glazer-backed Lancer Capital.
Sources suggest that the transaction is expected to be completed by March 31, positioning RCB as one of the most valuable teams in franchise cricket.
The Royal Challengers Bengaluru will kick off the 2026 IPL season as defending champions.