When owners of one of the world’s most recognisable football clubs start bidding for an IPL franchise, it is no longer just an Indian sports story. It becomes a global capital allocation signal.
That is exactly what is playing out with reports that Avram Glazer, executive co-chairman of Manchester United, has submitted a bid of close to USD 1.8 billion for Royal Challengers Bengaluru.
This is not curiosity capital. This is serious sports money chasing a proven, scalable asset.
Why Manchester United’s Owners Are Looking at RCB
The Glazer family understands global sports economics better than most. Manchester United is not just a football club; it is a monetisation engine built on broadcasting rights, sponsorship depth, merchandise sales, and global fan conversion.
RCB now fits that same playbook.
After years of being one of the IPL’s most popular yet trophyless teams, RCB finally broke through in 2025 with their maiden IPL title. That single sporting milestone fundamentally altered how global investors view the franchise. What was earlier emotional fan equity has now converted into measurable enterprise value.
For owners used to evaluating sports assets on long-term cash flows rather than seasonal performance, this shift matters.
The Bid That Turned Heads
Reports indicate that RCB has received nine non-binding bids, with valuations ranging from USD 1 billion to USD 1.8 billion. The Glazer-backed bid sits at the very top of this range, making it one of the most aggressive offers ever seen for an IPL franchise.
To put this into perspective, in 2021, RPSG Group paid about USD 940 million for the Lucknow franchise. A bid nearly double that amount within a few years highlights how sharply IPL franchise economics have evolved.
This is also not the Glazers’ first interaction with cricket. Through Lancer Capital, they already own the Desert Vipers franchise in the ILT20 league, indicating a clear strategy to build exposure across global cricket properties.
Why RCB, Specifically?
RCB is not just another IPL team.
Bengaluru gives the franchise a unique advantage – a high-income, young, globally connected consumer base. This aligns perfectly with international sponsorships, digital monetisation, and global fan engagement, areas where Manchester United has historically excelled.
RCB has also demonstrated an ability to monetise beyond men’s cricket, particularly through women’s cricket success. That positions the franchise as a year-round brand rather than a two-month sporting event.
For global sports investors, this reduces volatility and increases predictability of returns.
Diageo’s Position and the Valuation Ceiling
RCB is currently owned by Diageo, which has reportedly been evaluating strategic options after the 2025 title win. Market chatter suggests Diageo’s internal valuation for RCB could be closer to USD 2.1 billion, reflecting the uplift from championship success and sustained brand strength.
This gap between bidder valuations and seller expectations is precisely why the current process is attracting so much attention. It underscores how RCB is now viewed as a rare, irreplaceable sports asset rather than a tradable franchise.
What This Means for IPL and Sports Investors
Manchester United’s owners bidding for RCB is a structural moment for Indian sports.
It confirms that IPL franchises are now being assessed using the same frameworks as elite European football clubs and American sports teams. Long-term brand value, fan lifetime value, global reach, and cross-league synergies are driving valuations – not just match-day revenues.
For investors tracking the evolution of sports as an asset class, RCB’s bidding war is a clear signal that Indian franchises have entered a new valuation regime.
And if a deal anywhere near USD 1.8 billion materialises, it will reset expectations for every IPL team going forward.