United Spirits Limited, the company that owns Royal Challengers Bengaluru (RCB), has put the Indian Premier League franchise up for sale. According to CNBC TV18 ‘s exclusive report, Adar Poonawalla, the CEO of the Serum Institute of India, is the ‘frontrunner’ to buy USL’s entire stake in the franchise.

USL is a subsidiary of Diageo, a British multinational alcoholic beverage company headquartered in London. It is seeking a valuation of a whopping $2 billion or about Rs. 17,762 crore. That would place RCB among the most valuable sporting organisations in the world. Global investment bank Citi has been appointed as the transaction advisor.

Diageo has been said to be open to a sale for some time now, with rumors peaking after the tragic stampede in Bengaluru during the team’s celebratio

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