Last month, we learned that Adar Poonawalla, proprietor and chief executive officer (CEO) of the Serum Institute of India, is keen on buying the Royal Challengers Bangalore (RCB). Present owners of the Indian Premier League (IPL) franchise, British spirits giant Diageo PLC, aren't interested in carrying on with RCB. They term it a 'non-core business entity'. It so happens that Poonawalla is not the sole interested party. Multiple other high-profile personalities, six to be precise, are eager to get on board the RCB express. The highest-profile among them is Parth Jindal of the Jindal South West (JSW) Group, co-owner of Delhi Capitals (DC). JSW has joint ownership of DC with the Grandhi Mallikarjuna Rao (GMR) Group. Jindal's action would leave him no choice but to relinquish all share in the Delhi franchise. This would allow BCCI to find some other prospective bidder for the IPL team or wait for GMR to buy it out on its own. But Jindal is not the sole franchise owner who has expressed interest. Adani Group, who placed a bid for Gujarat Titans in 2021 but failed to get it, has also expressed interest in RCB. Adani Group already owns the Gujarat Giants in the Women's Premier League (WPL) and wants to enter the IPL. Also Read: Watch: Rohit Sharma and Virat Kohli Share Wholesome Moment During Batting Exchange But evaluation is still a problem. Diageo has also been mentioning $2 billion (INR 17,859 crore approximately) as the selling price. But Poonawala wasn't very sure of that amount. "At the right valuation, @RCBTweets is a great team," Poonawala had posted on X (formerly Twitter) on October 1. IPL's value within its ecosystem has begun to decline. Ever since 2023, it's fallen by INR 16,400 crore. It began because of Star and Jio. The two media giants together have seen media rights remain static ever since nobody can rival their might. Although digital media giants such as Netflix and Amazon are likely to enter for online media rights, nothing is certain currently. The advent of the Promotion and Regulation of Online Gaming Bill 2025 witnessed INR 1,500 to 2,000 crore destroyed in yearly ad and sponsorship income for the BCCI and the IPL. Its future impacts can't be assessed yet. One good indication is that JioStar will soon make an announcement regarding a subscription model for the IPL. Approximately 50 crore users may subscribe to that, and based on how much they charge for it, that could really boost the league's revenue. We should also witness the number of matches going up to 96 from 74, and the IPL being held for 3 months in the future as well. Even with the destruction of the online gaming business and drop in media rights, the $2 billion value of buying RCB could be on the money.