Global drinks company Diageo has agreed to sell its Indian Premier League (IPL) cricket business for $1.77 billion (around ₹166.6 billion).
The deal is being carried out through its Indian subsidiary United Spirits, which will sell its sports unit, Royal Challengers Sports Private Limited (RCSPL), to a consortium of investors. The consortium includes Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s private equity fund BXPE.
RCSPL owns the popular cricket franchise Royal Challengers Bengaluru (RCB), which competes in both the Indian Premier League (IPL) and the Women’s Premier League (WPL).
United Spirits had started reviewing the sale of this business in November last year as part of a strategic move. According to Managing Director and CEO Praveen Someshwar, the sale will allow the company to focus more on its core alcohol business and drive long-term growth.
Once the deal is completed, the new consortium will take full control of operating the RCB franchise in both IPL and WPL.
The IPL, launched in 2008, saw the Bengaluru team originally bought by Vijay Mallya for just $11.6 million. Over the years, RCB has grown into one of the most valuable and widely followed teams, known for its strong brand and loyal fan base.
Someshwar said RCB has become one of the most commercially successful franchises in cricket, built on its “Play Bold” philosophy. He expressed confidence that the team will continue to grow under its new owners.
The investor group brings together strong experience in sports, media, technology, and brand building. In a joint statement, the consortium said it plans to take RCB to greater heights both on and off the field.
The deal is still subject to regulatory approvals, including from the Board of Control for Cricket in India and the Competition Commission of India.
Meanwhile, Diageo continues to see strong growth in India. The company reported an 8.7% increase in sales in the second half of 2025, driven by brands like Royal Challenge, Black & White, Signature whisky, and Smirnoff vodka. Its Indian-made foreign liquor (IMFL) segment also grew by 4% during the same period.
Additionally, new Diageo CEO Sir Dave Lewis has indicated that the company is exploring opportunities in the lower-priced segment of the market.
