• Source:JND
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United Spirits Limited, the owner company of Royal Challengers Bengaluru (RCB), has put the sale tag on its prized Indian Premier League franchise.

According to CNBC TV18‘s exclusive report, Adar Poonawalla, CEO of the Serum Institute of India, has emerged as the leading contender to acquire the entirety of United Spirits Limited's stake in RCB.

United Spirits Limited is seeking a staggering $2 billion valuation for Royal Challengers Bengaluru, which would likely propel the franchise into the ranks of the world's most valuable sporting clubs.

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Speculation has been rife, particularly after the tragic stampede incident in Bengaluru. Now, with potential consumers emerging and logistics being finalised, the sales process appears to be gaining momentum.

"RCB is an exciting business, but it is non-core for Diageo," earlier this month, Praveen Someshwar, MD & CEO of Diageo India, told CNBC-TV18.

Earlier, former IPL commissioner Lalit Modi sparked fresh speculation about a potential sale of RCB.

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“There have been a lot of rumours about the sale of an IPL franchise. Well in the past, they have been denied. But it seems the owners have finally decided to take it off their balance sheet and sell it. I am sure having won the IPL last season and with its strong base of fans and great management, it could be the only team available as a whole," Modi said as quoted by News 18.

"One of the big global funds or sovereign funds would desperately like to have them as part of their India strategy. This will definitely set a new record valuation and become the floor price for all IPL teams. I am sure Citi will do a great job auctioning the team," he added.