The Glazer family, owners of Manchester United, have reportedly placed a bid of $1.8 billion (approximately £1.4 billion) through Avram Glazer's Lancer Capital, for the Royal Challengers Bengaluru (RCB), an Indian Premier League (IPL) cricket team. This marks their latest attempt to expand their sports portfolio into the lucrative Indian cricket market.
RCB, based in Bengaluru, is one of the original eight IPL franchises and has a strong brand value within the league. The team recently won the IPL in 2025 and followed it up with a second Women's Premier League (WPL) title. Diageo, the current owners, initiated a review of their holdings after the IPL victory, which has now evolved into a formal auction. Citigroup is acting as the transaction advisor for the sale. The entire sale process is expected to conclude by March 31, 2026.
Nine parties have submitted non-binding bids for RCB, ranging from $1 billion to $1.8 billion. The Glazers' bid is at the higher end of this range, but still falls short of Diageo's expected valuation of $2.1 billion, which was set after RCB's IPL 2025 title win. While these initial bids demonstrate serious interest, they are non-binding and subject to change during the due diligence process. RCB will use these initial bids to create a shortlist of potential buyers and invite binding offers from them. The Rajasthan Royals have already moved past the non-binding bid stage and are working towards binding bids with a goal to exclusively negotiate with a finalist in early March. The Glazers are reportedly among the parties pursuing both the Rajasthan Royals and Royal Challengers Bengaluru franchises. However, Board of Control for Cricket in India (BCCI) rules prevent owning more than one team, requiring any party in exclusive talks with one franchise to withdraw from consideration for other franchises.
This isn't the Glazers' first foray into Indian cricket. In late 2021, they made an unsuccessful attempt to acquire one of two new IPL franchises. Their bid of ₹4,128.65 crore was the lowest among nine qualifying bids, ultimately losing out to the RPSG Group (Lucknow) and CVC Capital (Ahmedabad). They had also shown interest in buying teams in the Women's Indian Premier League.
The Glazers' interest in the IPL reflects the league's increasing global appeal and financial strength. The IPL has grown to become one of the most valuable T20 leagues in the world, attracting significant investment from both domestic and international entities. Their existing ownership of the Desert Vipers franchise in the ILT20 demonstrates their commitment to cricket. If successful, acquiring the Royal Challengers Bengaluru would further diversify their sports portfolio and provide a significant presence in the Indian market.