Diageo sells Royal Challengers Bengaluru cricket franchise for £1.3bn
Published: 03:14 25 Mar 2026 EDT
Diageo PLC (LSE:DGE), the FTSE 100 drinks group, is selling its Indian Premier League (IPL) cricket franchise for approximately £1.3 billion.
United Spirits Limited (USL), Diageo's Mumbai-listed subsidiary, has agreed to sell its entire stake in Royal Challengers Sports Private Limited (RCSPL), the company that owns and operates the Royal Challengers Bengaluru teams in both the IPL and the Women's Premier League (WPL).
The buyer is a consortium includes the sports investor David Blitzer, Blackstone, the Aditya Birla Group, one of India's largest conglomerates and The Times of India Group.
The total sum being paid is 166.6 billion Indian rupees, equivalent to around £1.3 billion at current exchange rates.
USL initiated a strategic review of RCSPL in November 2025, and this transaction concludes that process.
Completion remains subject to regulatory clearances, including approval from the Board of Control for Cricket in India (BCCI) and the Competition Commission of India.
Citigroup advised USL as lead financial adviser, with AZB & Partners acting as legal counsel.