India's Serum Institute CEO Poonawalla To Bid For IPL Champions RCB

Adar Poonawalla, CEO of vaccine maker Serum Institute of India, said on Thursday he will bid for the Indian Premier League cricket team Royal Challengers Bengaluru (RCB).

"Over the next few months, will be putting in a strong and competitive bid" for the 2025 men's tournament champions, Poonawalla said on social media platform X, calling it "one of the best teams in the IPL."

He did not disclose details of the bid or specify whether he was bidding in a personal capacity or on behalf of the company.

RCB is owned by United Spirits, an Indian unit of the one of the world's largest spirits makers, Diageo.

In November, United Spirits said it will begin a strategic review of its investment in RCB as it focuses on its core alcohol business.

Diageo was seeking a valuation of about $2 billion for the team last year, according to media reports.

RCB lifted the Indian Premier League title in June for the first time in the money-spinning annual men's T20 cricket tournament which was founded in 2008.

Bloomberg News reported soon after that the owners were "weighing possibilities including a sale of part or all of the club and may seek a valuation of as much as $2 billion".

A day after the final triumph in Ahmedabad, disaster struck RCB's homecoming trophy parade when 11 fans were crushed to death and more than 50 others injured in a stampede outside the Chinnaswamy stadium in Bengaluru.

Hundreds of thousands had gathered on the streets of the city to welcome home their hero Virat Kohli and his victorious teammates.

Prime Minister Narendra Modi called it "absolutely heartrending" and Kohli said he was "at a loss for words" after the tragedy.

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