BREAKING — March 16, 2026: Today is the final deadline for binding bids in the high-profile sale of two of the IPL’s most iconic franchises — Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR). In a dramatic development on deadline day, the bidder list has been significantly narrowed, with five interested parties dropping out of the race. Here’s the complete picture of who’s in, who’s out, and what happens next.
This ownership saga is playing out just 12 days before IPL 2026 begins on March 28. Whatever the outcome, the actual ownership transfer won’t take effect until October 2026 when the BCCI holds its AGM — meaning both teams will play the entire IPL 2026 season under their current ownership structures. Read: IPL 2026 Phase 1 Schedule and RCB IPL 2026 Squad.
RCB Sale — Who’s Bidding, Who Dropped Out
Originally, up to 7 parties were expected to bid for RCB. That number has now been reduced to 3 confirmed bidders plus one dark horse:
✅ Confirmed RCB Bidders (March 16):
- EQT Group (Sweden) — Swedish private equity giant, the clear frontrunner. Binding bid reported in the range of $2.0–$2.1 billion (approximately ₹18,463–₹19,386 crore). This would be the highest valuation ever placed on an IPL franchise.
- Avram Glazer / Lancer Capital — The American sports entrepreneur (formerly of Manchester United ownership family) had previously bid $1.8 billion (₹16,616 crore). He remains in the race.
- Ranjan Pai + KKR Group — The Manipal Group chairman in consortium with KKR’s private equity arm. A strong domestic bid.
❌ Dropped Out of RCB Race:
- Adar Poonawalla (Serum Institute) + TPG — withdrew
- Times of India Group — withdrew from RCB (still interested in RR)
- Premji Invest — withdrew
- Capri Global — withdrew from RCB (still interested in RR, possible dark horse)
RCB is currently owned by United Spirits Limited (USL), the Indian subsidiary of global drinks giant Diageo. Diageo put the franchise up for sale in November 2025 citing a strategic review, with the hard deadline of March 31 to complete the deal — just 3 days after IPL 2026 begins.
RR Sale — Who’s Bidding, Who Dropped Out
✅ Confirmed RR Bidders (March 16):
- Aditya Birla Group + David Blitzer (Bolt Ventures) — The frontrunner for RR. Aditya Birla Group is one of India’s largest conglomerates. Blitzer is a US sports investor known for stakes in Crystal Palace FC and NJ Devils (NHL).
- Times of India Group — India’s largest media house, still active in the RR race after withdrawing from RCB.
- Capri Global — Possible dark horse, could partner with one of the other two bidders.
❌ Dropped Out of RR Race:
- Avram Glazer / Lancer Capital — withdrew from RR after staying in RCB race. BCCI rules prohibit a single entity from owning more than one IPL franchise.
Wild card — Lalit Modi: The controversial founder of the IPL (who remains banned from BCCI activities) had teamed up with Kal Somani to bid ₹11,791 crore ($1.3 billion) for RR. It’s unclear whether this bid was formally accepted or qualified given Modi’s BCCI ban. RR’s floor value is set at $1.1 billion. Read the RR IPL 2026 Squad.
What Happens After Today’s Deadline?
The bidding process now moves to evaluation. For RCB — Diageo has set a hard deadline of March 31 for the deal to be signed. That gives them just 15 days to evaluate bids, negotiate terms and finalise documents. Franchise ownership dialogues typically take 4–6 weeks, so this is an extremely compressed timeline.
For RR — owned by Emerging Media Ventures led by Manoj Badale — there is no hard deadline. Their transaction can proceed at whatever pace the parties agree, with BCCI approval still required at the October 2026 AGM.
Key Facts — RCB & RR Sale at a Glance
| Item | RCB | RR |
|---|---|---|
| Current owner | Diageo (USL) | Emerging Media Ventures (Manoj Badale) |
| Bid deadline | March 16 (today) | March 16 (today) |
| Deal deadline | March 31 | No fixed deadline |
| Frontrunner | EQT Group ($2.0–2.1B) | Aditya Birla Group + Bolt Ventures |
| Floor value | ~$1.5B | ~$1.1B |
| BCCI approval | October 2026 AGM | October 2026 AGM |
| 2026 season impact | No ownership change during IPL 2026 | No ownership change during IPL 2026 |
Why Is RCB So Valuable?
At $2 billion+, RCB would become the most expensive IPL franchise ever sold. The drivers of this valuation include the franchise’s massive global fanbase — particularly tied to Virat Kohli, who remains one of cricket’s biggest commercial properties — their IPL 2025 title win, the Women’s Premier League team that comes bundled with the sale, and the IPL’s exploding broadcast rights value. With JioHotstar paying an enormous sum for IPL digital rights and the league’s global expansion underway, IPL franchises are now viewed as comparable to premium European football clubs as investment assets.
Follow RCB in IPL 2026 on the IPL 2026 Points Table. Watch the season opener RCB vs SRH on JioHotstar on March 28. See all IPL 2026 Captains and team guides.