On February 6, 2026, the Glazer family, owners of Manchester United, reportedly submitted a non-binding bid of $1.8 billion to acquire the Royal Challengers Bengaluru (RCB).
The offer, made through Avram Glazer’s investment vehicle Lancer Capital, is part of a formal sale process initiated by the team’s current owner, Diageo (via United Spirits). This valuation marks a historic high for an IPL franchise, fueled by RCB’s recent success—winning the IPL 2025 (Men) and the WPL 2024 (Women) titles.
1. The Bidding War
The Glazers are not alone in their pursuit of the Bengaluru-based franchise. According to reports, nine parties have submitted initial bids ranging from $1 billion to $1.8 billion.
- Top Contenders: Aside from the Glazers, high-profile bidders include:
- Adar Poonawalla (CEO of Serum Institute of India), backed by private equity firm TPG.
- Dr. Ranjan Pai (Manipal Group), reportedly in a consortium with KKR and potentially Temasek.
- Private Equity Giants: Firms like Blackstone, Carlyle, and EQT are also evaluating the franchise.
- Shortlisting: The Glazers have already been shortlisted alongside four other serious bidders. Binding offers are expected by next week as the field narrows.
2. Why the $1.8 Billion Valuation?
Industry analysts point to a “perfect storm” of commercial and sporting success that has driven RCB’s price tag to nearly ₹16,300 crore.
- Sporting Glory: RCB shed its “underachiever” tag by clinching the 2025 IPL Trophy, significantly boosting its brand equity and market appeal.
- The “Kohli” Factor: The franchise remains anchored by Virat Kohli, arguably the most commercially powerful athlete in India, ensuring massive sponsorship and broadcast value.
- Combined Assets: The $1.8 billion valuation covers the entire “Royal Challengers Sports” portfolio, including both the Men’s IPL and Women’s Premier League (WPL) teams.
- Media Rights: The bid reflects long-term growth projections for the IPL’s next media rights cycle, which is expected to dwarf previous records.
3. The Glazers’ IPL Persistent Interest
This is not the first time the Manchester United owners have tried to enter the Indian cricket market.
- 2021 Failure: The family previously bid for one of the two expansion teams (Lucknow and Ahmedabad) but lost out to RPSG Group and CVC Capital.
- Cricket Footprint: They already own the Desert Vipers in the UAE’s ILT20 league. Acquiring RCB would represent their most significant investment in global sports outside of football and the NFL (Tampa Bay Buccaneers).
4. What’s Next for RCB?
- Timeline: Diageo aims to conclude the sale by March 31, 2026, just as the new IPL season begins.
- Operational Shifts: While the ownership may change, the team has already secured Nothing as a new front-of-shirt sponsor and Sun Pharma as a principal partner for the 2026 season.
- Due Diligence: Shortlisted bidders are currently performing deep financial due diligence before submitting final, binding offers later this month.
Conclusion: A New Era for the “Bold”
The $1.8 billion offer from the Glazers signals that IPL franchises are no longer just “sports teams” but are now being treated as premium global media assets. If the deal goes through, it will bridge one of the world’s most famous football brands with India’s most popular cricket franchise, potentially changing the commercial landscape of the league forever.
