USL to start strategic review of investment in IPL team Royal Challengers Bengaluru
New Delhi (PTI): United Spirits Ltd (USL), part of multinational alcoholic beverages company Diageo, on Wednesday said it is going to have a strategic review of its investment in Royal Challengers Sports Pvt Ltd (RCSPL), the entity that owns IPL T20 team Royal Challengers Bengaluru.
Hinting towards the sale of the business, USL, in a regulatory filing on Wednesday, said it is "initiating a strategic review of the investment in its wholly-owned subsidiary, RCSPL."
RCSPL's business comprises ownership of the “Royal Challengers Bengaluru (RCB)” franchise teams that participate in the Men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually.
RCB, the team that had India's cricket star Virat Kohli, won its first Indian Premier League title earlier this year.
The company expects the entire process of strategic review to be completed by the end of this fiscal.
"It is expected the process will conclude by March 31st, 2026," said USL Managing Director & CEO Praveen Someshwar.
According to Someshwar, though RCSPL has been a valuable and strategic asset for USL, it’s non-core to our alcoholic beverage business.
"This step reinforces 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," he said.
RCB was one of the founding teams of the IPL, which was founded in 2008 by its previous owner Vijay Mallya. It came into the fold of Diageo, after it took Mallya's liquor business United Spirits Ltd.
RCB, whose home ground is M Chinnaswamy Stadium, won their first title in 2025 and finished as the runners-up on three occasions -- 2009, 2011, and 2016.
Earlier, in September, some media reports had claimed that Serum Institute CEO Adar Poonawalla was in talks with USL for a possible acquisition of RCB.
Recently, in a post on X (formerly Twitter) platform, Poonawalla said, “At the right valuation, RCB is a great team,” signalling his interest in acquiring the 2025 IPL champion team.
Earlier, in May 2022 after a the strategic review of selected Popular brands, USL had sold and franchised selected brands to Inbrew Beverages.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Lebanon appoints new representative for talks with Israel, rejects linkage to Iran
Beirut: Lebanon’s has moved to underline its independent position in ongoing regional developments, amid attempts to link the country to the broader conflict involving Iran, the United States and Israel.
President Joseph Aoun, while announcing the appointment of former US ambassador Simon Karam as Lebanon’s representative in talks with Israel, made it clear that Karam would be the sole representative for Lebanon and that there would be no substitute.
The move comes in response to what the Lebanese officials see as efforts by Iran to tie Lebanon’s situation to the wider regional conflict. Iran had indicated that there would be no ceasefire involving the US, Israel and Iran unless it also included a ceasefire in Lebanon.
Some groups, including Hezbollah and its supporters, had expressed support for linking the situations, citing concerns that the Lebanese government has limited leverage in negotiations with Israel. Lebanon is not formally a party to the conflict, and its army is considered weak.
However, others, including Prime Minister Nawaf Salam, have opposed this approach. They view Iran’s stance as an attempt to influence Lebanon’s internal affairs and see it as undermining the country’s sovereignty.
Officials backing the government’s position say the move is aimed at reaffirming Lebanon’s sovereignty and ensuring that decisions about peace and ceasefire within the country are not dictated externally.
They also see it as a safeguard, so that any breakdown in talks between the US, Israel and Iran does not automatically lead to renewed conflict in Lebanon.
