Serum Institute of India CEO Adar Poonawalla hints at purchasing stake in RCB

New Delhi [India], October 1 (ANI): Adar Poonawalla, CEO of Serum Institute of India, has hinted at the prospect of purchasing a stake in the Indian Premier League franchise Royal Challengers Bengaluru (RCB).

On Wednesday, Poonawalla expressed his interest in acquiring a stake in the franchise, which is owned by United Spirits, the Diageo-controlled owner of RCB and wrote on X, "At the right valuation, @RCBTweets is a great team..."

Under the leadership of Rajat Patidar, RCB lifted its maiden title by trouncing Punjab Kings in the final of the 18th edition of the cash-rich league. However, on June 4, 11 people died and over 50 were injured in a stampede outside Bengaluru's M Chinnaswamy stadium.

A massive crowd of nearly 300,000 people had gathered to witness the victory celebration of the Royal Challengers Bangalore, celebrating their maiden IPL trophy win. Following the tragic incident, the Central Administrative Tribunal (CAT) held RCB responsible, and speculations about the franchise's sale remained a possibility.

Poonawalla's remark comes after IPL's first-ever commissioner, Lalit Modi, added fuel to the fire on Tuesday, stating that there could be no better investment at the moment than purchasing RCB. Lalit firmly believes that significant global funds or a sovereign fund would desperately want to have them as part of their investment strategy and India strategy.

"There have been a lot of rumours about the sale of an @IPL franchise, specifically @RCBTweets - well, in the past they have been denied. But it seems the owners have finally decided to take it off their balance sheet and sell it. I am sure having won the IPL last season and also with its strong base of fans and off course the Team itself and a great management team - it could be the only Team which would be available as a whole as an #ipl franchise," Lalit wrote on X.

"I am sure one of the Big Global funds or a Sovereign Fund would desperately like to have them as part of their investment strategy and India strategy. There can be no better investment opportunity I could think of then this one. Good luck to whoever can get their hands on to it. It definitely will set a new record valuation which will just go to show that IPL is the not only the fastest growing Global Sporting league but also the most valuable. That new price that #rcb sets will become the new floor price for all teams. Good to luck to all. I am sure #citibank will do a great job auctioning the team to prospective buyers," he concluded.

The most recent ownership shift in the IPL witnessed the Torrent Group, a diversified conglomerate with interests in the Healthcare and Energy sectors, acquire a 67 per cent majority stake in Gujarat Titans. As part of the deal, Irelia retained a substantial minority stake of 33 per cent in the franchise. (ANI)

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