Rajat Patidar and Virat Kohli of RCB (ANI) Bengaluru: As Diageo prepares to sell Royal Challengers Bengaluru (RCB), the reigning IPL champions and one of its most valuable franchises, speculation has been rife about potential suitors.Among the local names participating in the rounds are Bengaluru-based billionaires Nikhil Kamath, co-founder of discount brokerage platform Zerodha, and Ranjan Pai, chairman of Manipal Education and Medical Group (MEMG). Both are Kannadigas and as billionaires they have the financial clout to bid for a franchise worth more than a billion dollars. Any consortium buying RCB will want a local face to connect with RCB’s passionate fan base and garner support from the city and state political and social establishment.
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While Diageo confirmed on Wednesday that it had begun the process of selling RCB, it was Adar Poonawalla’s tweet on October 1 — “At the right valuation @RCBTweets is a great team” — that brought to public attention that a Virat Kohli-led Bengaluru team was in play. Poonawalla is the CEO of the Serum Institute of India, the world’s largest vaccine maker, and his family, according to Forbesis worth more than $20 billion.A consortium comprising Kamath, Pai and possibly Poonawalla could bid for the franchise, sources said TOI. An email sent to Pai and messages to Kamath’s team did not elicit a response till the time of going to press. According to ForbesPai has an estimated net worth of $2.8 billion, while Kamath’s is $2.5 billion.The Indian Premier League (IPL), one of the most successful sports leagues in the world, has seen its valuation explode in recent years, generating huge investor interest.AND Forbes a 2022 report put RCB’s value at just over $1 billion. That was three years ago and before they won the championship this year. Now that number would be significantly higher. A comprehensive valuation report on the IPL and its franchises by investment firm Houlihan Lokey showed the IPL’s business value to reach $18.5 billion and brand value of $3.9 billion by 2025.RCB has the highest brand value among IPL franchises at $269 million.
