Conman Sukesh Chandrashekar has reportedly written to UK-based spirits giant Diageo, expressing interest in acquiring the Indian Premier League franchise Royal Challengers Bengaluru (RCB) with a $1 billion all-cash offer, according to sources.
In the letter to RCB’s owners and promoters, Chandrashekar, whose firm LS Holdings says it intends to complete the acquisition swiftly, described the bid as “realistic” and claimed it could be settled within 48 hours without third-party funding. He told Diageo that his offer includes ownership rights, trademarks, player contracts and league entitlements, subject to regulatory approvals and due diligence.
Addressing his ongoing legal situation, Chandrashekar wrote that the charges against him are “only allegations” and no court has convicted him. He also emphasised that LS Holdings has operations and registrations in multiple countries and is ready to deposit the full amount in escrow before formal discussions.
In his letter, he called RCB his “home team” and said owning the franchise would fulfil a personal dream, adding that acquisition opportunities should not be limited only to large corporations or celebrities. His offer surfaces amid a broader sale process for the IPL team, which Diageo has reportedly under strategic review ahead of a potential sale process expected to conclude by March 31, 2026.
