After Royal Challengers Bengaluru, Rajasthan Royals have likely entered the race of selling the franchise. The rumors started after Harsha Goenka, brother of Sanjiv Goenka, tweeted that both Royals are likely to sell. In the tweet he did on November 28, he wrote,
“I hear, not one, but two IPL teams are now up for sale- RCB and RR. It seems clear that people want to cash in the rich valuations today. So two teams for sale and 4/5 possible buyers! Who will be the successful buyers- will it be from Pune, Ahmedabad, Mumbai, Bengaluru or USA?"
Rajasthan Royals, as per 204 is currently owned by Royals Sports Group, which is Emerging Media Sporting Holdings Limited. It hold 65% of the shares, while other stakeholders are Lachlan Murdoch and RedBird Capital Partners.
Meanwhile, Royal Challengers Bengaluru, the one that won the 2025 IPL, has already started thelegal procedures. Earlier owned by Diageo, Adar Poonawala's Serum Institute of India is likely to acquire the franchise.
Which IPL teams have already undergone ownership change since 2008?
Changing ownership is not new for the IPL franchises. Sometimes it has to change the teams' names too. Here are the teams that have had ownership changes since 2008.
1 | Royal Challengers Bengaluru (RCB):
RCB started its inaugural season in 2008, with Vijay Malya's United Sports Limited. It was directly linked with the famous alcohol brand Kingfisher, and the team was there primarily to promote it. The name of the team came from the liquor brand itself, with jerseys often featuring sponsorships and brandings of bUSL’s liquor brands (Royal Challenge, McDowell’s No. 1, plus “Kingfisher” branding from Mallya’s wider beverage/airlines empire).
With time Diageo started acquiring stakes in USL, and by 2014, Diageo grew massively, leading to restructuring. Mallya's business failed and he got involved in financial issues, which made him leave by 2016 and lose control over the team, with Diageo taking over it.
2 | Rajasthan Royals (RR):
Rajasthan Royals (RR), one of the IPL’s original 2008 franchises, was bought by Emerging Media (led by Manoj Badale) for US $67 million, the lowest among the eight teams. Early ownership was a consortium including Tresco International, Blue Water Estate, and later Kuki Investments (Raj Kundra & Shilpa Shetty) holding ~11.7%.
Due to controversies over undisclosed share transfers and betting scandals, RR was suspended for the 2016–17 IPL seasons. After the suspension, the franchise returned under a restructured ownership, with Emerging Media consolidating control.
By 2021, Badale’s stake rose to 65%, while RedBird Capital Partners acquired 15%, and minority shares remain with Lachlan Murdoch and other small investors. RR now operates as a professionally managed franchise under Royal Multisport Pvt. Ltd., maintaining strong commercial and brand value, despite its early controversies.
Read also: Mega auction mayhem: Five top International stars go unsold in WPL 2026
3 | Sunrisers Hydebad (SRH):
Remember Deccan Chargers—the team that won the IPL in the very second season? That Deccan Chargers revived to the Sunrisers Hyderabad. The team existed till 2012, owned by Deccan Chronicle Holdings Ltd. (DCHL). However, before the 2012 season, DDCL failed to give ₹ 100 crore bank guarantee required by the governing body.
In September 2012, BCCI terminated Deccan Chargers and opened fresh bids for the Hyderabad team. Owned by media entrepreneur Kalanithi Maran, Sun TV network entered and bought it for INR 8.05, per year for five years.
The team was rebranded and given a new logo and a name:Shorten this with Sunrisers Hyderabad.
4 | Delhi Capitals:
Delhi Capitals, originally Delhi Daredevils, were bought by GMR Group for US$84 million during the IPL’s 2008 franchise auction. The team played under the Daredevils name for a decade.
In March 2018, GMR sold a 50% stake to JSW Sports for ₹550 crore, creating a joint 50:50 ownership model. Later that year, in December 2018, the franchise rebranded itself as Delhi Capitals, unveiling a new logo and identity to mark a fresh competitive direction.
Since 2018, DC has operated under shared ownership, expanding into broader ventures including a women’s team. As of 2025, the franchise’s estimated net worth stands at US$64.1 million (≈ ₹480.4 crore), built through sponsorships, media rights, merchandise, ticket sales, and prize money.
In 2024, DC introduced a rotational management model: GMR oversees the men’s IPL team for 2025–27, while JSW handles the women’s team, with roles alternating every two years.
