Interest is only going in the upward direction for the Indian Premier League on a global scale.”Indian and foreign investors have noticed franchise RCB, and RR. Among the high-profile bidders is Avram Glazer, co-owner of English football powerhouse Manchester United, underscoring IPL’s rising stature as a global sports property.
Up to eight investors have been been shortlisted to bid for RCB, industry sources say while five will be in the hunt for RR. Projected valuations for the franchises are eye-popping, and guesses about what teams might sell for have reached or surpassed $1 billion. In fact, RCB’s valuation is expected to be around $1.2 billion and $1.8 billion as per estimates even when the EOI for RR ranges between $1.2 billion and $1.4 billion.
The team that won the IPL in 2025 and also holds the Women’s Premier League title are owned by global drinks company Diageo. Diageo has been reviewing its cricket portfolio and is understood to be seeking exit the franchise by March 31, 2026 on grounds of cricket being a non-core activity.
Among the discussed bidders who made it to next stage include Avram Glazer’s Lancer Capital, Ranjan Pai of Manipal Group, Adar Poonawalla (CEO of Serum Institute of India), Times of India Group and EQT Private Capital, Capri Global led consortium along with US-based business chief Sanjay Govil and Premji Invest. It is believed that a number of these investors are pooling together to bolster their offers.
Emerging Media, whose members include the majority owner Manoj Badale and beyond-cricket peers in Singapore, has about 65% of Rajasthan Royals. RR’s shortlisted bidders include Lancer Capital, Capri Global, tech tycoon Kal Somani Sanjay Govil and the Times of India Group. RR final bids are due in the first week of March.
Both franchises, according to the people familiar with the bidding process, have made available for bid off 100% of their equity. The ultimate decision will be left to the current owners, but the sale still needs to be cleared with the Board of Control for Cricket in India (BCCI), and they will also receive 5% of any final selling price under IPL rules.
From global private-equity firms, Indian conglomerates, international sports investors – all are players in the race for ownership that could result in one of the costliest franchise sales ever seen in cricket and affirming the IPL’s pre-eminent position as the most cash-rich league in cricket.
