United Spirits begins strategic review of Royal Challengers Sports

Move part of Diageo-backed firm's portfolio review as RCB franchise remains non-core; review process expected to conclude by March 2026

United Spirits Ltd (USL) said in a stock exchange filing that it has initiated a strategic review of its investment in Royal Challengers Sports Private Limited (RCSPL), a wholly owned subsidiary of the company.

 

“RCSPL’s business comprises ownership of the Royal Challengers Bengaluru (RCB) franchise teams that participate in the men’s Indian Premier League (IPL) and the Women’s Premier League (WPL) cricket tournaments hosted annually by the Board of Control for Cricket in India (BCCI),” the company said in its filing.

 

It added that the process is expected to conclude by March 31, 2026.

 

‘Non-core to our alcobev business’: Someshwar

 

 

Praveen Someshwar, managing director and chief executive officer of United Spirits, said, “RCSPL has been a valuable and strategic asset for USL; however, it’s non-core to our alcobev business. This step reinforces USL’s and Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all stakeholders, while keeping RCSPL’s best interests in mind.”

 

Adar Poonawalla had shown interest in RCB

 

In September, sources indicated that Serum Institute of India CEO Adar Poonawalla was in talks with United Spirits, the owner of the Royal Challengers Bengaluru franchise, for a possible acquisition of the IPL 2025 champion.

 

Media reports at the time said that Diageo, the British multinational alcoholic beverages company and parent of United Spirits, was seeking a valuation of around $2 billion for the RCB franchise.

 

Following these reports, Poonawalla had posted on social platform X, “At the right valuation, RCB is a great team…”