Adar Poonawalla vows to put "strong and competitive" bid to buy IPL franchise RCB

Diageo Plc, the current owners of RCB, has reportedly sought a valuation of USD 2 billion to sell the franchise.

Adar Poonawalla, the CEO of the Serum Institute of India, stated on Thursday (January 22) that he will be placing a "strong and competitive" bid over the next few months in an attempt to acquire Royal Challengers Bengaluru (RCB) -- one of the most popular Indian Premier League (IPL) franchises.

Diageo Plc, the current owners of RCB, has reportedly sought a valuation of USD 2 billion to sell the franchise.

"Over the next few months, I will be putting in a STRONG and COMPETITIVE bid for @RCBTweets, one of the best teams in the IPL," Poonawalla wrote on X.

In October last year, Poonawalla had posted on X: "At the right valuation, @RCBTweets is a great team."

Earlier, former IPL commissioner Lalit Modi publicly suggested that global or sovereign funds would line up to invest in RCB, further fueling the rumors.

The $2 billion figure would make the franchise one of the most valuable single-team assets in sporting history if the deal goes through. Reports also claimed that global investment bank Citi has been appointed as the transaction advisor.

RCB ended their 18-year long wait to win the IPL crown last season. Following the triumph, a large celebration was organised in Bengaluru, but the situation soon turned tragic as 11 people lost their lives in a stampede outside the Chinnaswamy Stadium.