Diageo is set to gain about $1bn from the sale of the IPL franchise. India’s United Spirits bought the franchise for $111 million in 2008. Diageo then built up ownership of United, and has had a controlling stake in it since 2020. The company, wisely it turns out, decided to hold on to RCB given the explosive growth in team valuations. Not bad for a bet on a sport that Diageo made by happenstance and which it almost certainly would not have done by itself.

Source: The Irish Times March 28, 2026 07:31 UTC