THE head of the world’s largest vaccine maker on Thursday (22) confirmed he will submit a "strong and competitive" bid for IPL team Royal Challengers Bengaluru (RCB).
Institute CEO Adar Poonawalla confirmed he will submit a "strong and competitive" bid for the IPL team.
RCB are the defending IPL champions and have one of the largest fan bases among the league’s 10 teams.
"Over the next few months, we will be putting in a STRONG and COMPETITIVE bid for RCB, one of the best teams in the IPL," Adar Poonawalla, CEO of Pune-based Serum Institute, wrote on his official 'X' handle. He did not provide details such as a timeline or bid amount.
The bid process is expected to move quickly, as IPL 2026 is scheduled to begin on March 26.
United Spirits Ltd (USL), the Indian arm of global beverage company Diageo, began the search for a new owner in November last year. The team is currently valued at around $105 million, according to Forbes India.
The sale was accelerated after a stampede during RCB’s June 4 victory celebrations in 2025, which resulted in the deaths of 11 fans.
Praveen Someshwar, managing director & CEO of USL, said, “RCSPL has been a valuable and strategic asset for USL; however, it is non-core to our alcobev business. This step reinforces USL’s and Diageo’s commitment to review their India portfolio while keeping RCSPL’s best interests in mind.”
USL had acquired RCB from its original owner, Vijay Mallya, after his business ventures collapsed in 2016.
Poonawalla’s announcement comes as RCB is reportedly considering moving its home matches out of Bengaluru during IPL 2026. Pune, Mumbai, and Raipur have expressed interest in hosting seven of the team’s home-leg matches.
The Karnataka State Cricket Association (KSCA) urged RCB to remain in Bengaluru, citing recent security and facility improvements at the M Chinnaswamy Stadium.
RCB responded, saying that “there are still a few grey areas that need to be reviewed. We are considering these inputs before arriving at a decision for the team and our fans.”
Besides Poonawalla, Hombale Films, owned by Vijay Kiragandur, is also in the running to acquire RCB. Hombale Films is known for producing pan-India films such as KGF and Kantara. No official statement has been issued by the company.
(PTI)
