Serum Institute chief confirms competitive offer for IPL champions
Buying interest in the Royal Challengers Bengaluru (RCB) franchise heated up after Serum Institute of India CEO Adar Poonawalla confirmed his intention to buy the team.
Poonawalla publicly announced that he plans to submit a robust financial offer for the defending IPL champions. Taking to his official X (formerly Twitter) handle, the vaccine mogul stated that he would be placing a "strong and competitive" bid for RCB in the coming months, describing them as one of the best teams in the league.
While Poonawalla did not disclose specific financial figures or a concrete timeline, the clock is ticking. Any potential deal needs to be finalized quickly, as the IPL 2026 season is set to commence on March 26.
Why is RCB for Sale?
The process to find a new owner began last November. Current owners United Spirits Ltd (USL), a subsidiary of Diageo, valued the franchise at approximately USD 105 million. Praveen Someshwar, MD & CEO of United Spirits, previously noted that while the cricket franchise has been a valuable asset, it remains outside their core alcohol-beverage business.
Tragically, a stampede on June 4 that resulted in the loss of 11 fans during victory celebrations also hastened the management's decision to sell.
Venue Uncertainties and Other Bidders
The Adar Poonawalla RCB bid is not the only offer on the table. Hombale Films, the production powerhouse behind hits like KGF and Kantara, is also reportedly in the running to acquire the team.
Amidst the ownership talks, confusion surrounds RCB’s home ground. Speculation suggests the team might move its home matches out of Bengaluru for the 2026 season. Cities like Pune, Mumbai, and Raipur are reportedly in discussions to host the team.
While the Karnataka State Cricket Association (KSCA) has urged the franchise to remain at the M Chinnaswamy Stadium, citing improved safety measures, RCB management maintains that several "grey areas" need resolution before they can commit to staying in Bengaluru.
