Praveen Someshwar on RCB's Ascent: 'Play Bold Paid Off' as USL Divests Franchise

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USL Exits RCB: Praveen Someshwar Says 'Play Bold Paid Off' as Franchise Sells for Rs 166.6 Billion

Praveen Someshwar, Managing Director and Chief Executive Officer of Diageo India.

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Storyboard•25-03-2026, 12:23

USL Exits RCB: Praveen Someshwar Says 'Play Bold Paid Off' as Franchise Sells for Rs 166.6 Billion

•United Spirits Limited (USL) sold its entire stake in Royal Challengers Bengaluru (RCB) for Rs 166.6 billion.
•The sale includes both IPL and Women's Premier League teams to a consortium led by Aditya Birla Group, Times Group, Bolt Ventures, and Blackstone.
•USL's MD and CEO Praveen Someshwar stated the move aligns with the company's strategic pivot to its core alcohol business, despite RCB being a 'valuable asset'.
•The divestment follows RCB's maiden IPL title win and its growth into a 'commercially successful franchise'.
•USL reported strong financial performance with Q3 FY26 net profit of Rs 529 crore and revenue of Rs 3,683 crore, driven by its premium portfolio.

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