Rajasthan Royals turn down 16000 crore takeover bid as IPL franchise valuations soar
Eight days before IPL 2026 gets underway, the biggest number in Indian cricket has nothing to do with a scorecard. Columbia Pacific Capital Partners tabled a bid reportedly worth around 16,000 crore, roughly 1.7 billion dollars, to buy the Rajasthan Royals outright. The franchise said no.
Why the Royals walked away
The offer came with attractive terms, including a proposed two-week payment window, but Rajasthan Royals ownership was not convinced. Manoj Badale's Emerging Media Ventures holds a 65 per cent controlling stake, with US investment firm RedBird Capital Partners owning a 15 per cent minority share acquired in 2021 when the franchise was valued at around 250 million dollars.
That 2021 valuation now looks like a relic from another era. Sources close to the process say the rejection was driven by more than just the headline number. Deal structure, execution certainty, and long-term strategic fit all played a part. The ownership group, which operates under the Royals Sports Group banner, believes the franchise can command a higher price down the line.
What this means for the RCB sale
The Rajasthan Royals rejection immediately changes the maths for other franchises on the market. Royal Challengers Bengaluru, who are deep into their own ownership transition, could now expect at least a 15 per cent premium over whatever the Royals eventually sell for.
Binding bids for RCB closed on March 16, with Swedish private equity firm EQT Group and a consortium led by Manipal Group's Ranjan Pai, backed by KKR (the investment firm, not the cricket team) and Singapore's Temasek, still in the running. The franchise is being valued at close to 2 billion dollars. The Glazer family, who own Manchester United, had earlier entered the race with a non-binding offer around 1.8 billion dollars before pulling out as the price climbed.
A league where teams cost more than football clubs
The numbers are staggering by any sporting measure. The Rajasthan Royals won the inaugural IPL in 2008 under Shane Warne with what was considered a shoestring budget. Less than two decades later, a 1.7 billion dollar offer for that same franchise was not enough.
Brand Finance's latest report pegs RCB's brand value at 269 million dollars for 2026, the highest in the league, after their maiden IPL title in 2025. The overall IPL ecosystem continues to balloon, and franchise owners are betting that holding out now will pay off as media rights, sponsorship deals, and global expansion push values higher still.
For anyone watching the business side of cricket, the message from Rajasthan Royals is clear: if you want in, bring more.
