RCB ownership may change hands; USL initiates strategic review of the investment

United Spirits Ltd. (USL), the Indian arm of London-based Diageo, is initiating a strategic review of investment in its wholly owned subsidiary, Royal Challengers Sports Pvt. Ltd. (RCSPL), the company that owns the Royal Challengers Bengaluru (RCB), the firm said in a regulatory filing on Wednesday.

Praveen Someshwar, Managing Director & CEO, USL said: “RCSPL has been a valuable and strategic asset for USL; however, it’s non-core to our alcobev business.’’

“This step would reinforce USL’s & Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL’s best interest in mind,” Someshwar added.

According to the statutory document, RCSPL’s business comprises ownership of both the men’s and women’s RCB teams which compete in the Indian Premier League and Women’s Premier League respectively. While the men’s team won the IPL title this year, the women were crowned champions in 2024.

Speculation that RCB would be up for sale has been rife since the June 4 stampede outside the M. Chinnaswamy Stadium that killed 11 people during the franchise’s title-winning celebrations.

USL’s strategic review process is expected to conclude by March 31, 2026.