New Delhi. Royal Challengers Bangalore (RCB), the new champions of the Indian Premier League (IPL), are seriously considering the possibility of selling the team. The valuation of this iconic franchise is expected to reach around $2 billion.

United Spirits Ltd (USL), the Indian arm of global beverage giant Diageo, has formally initiated a “strategic review” of RCB’s investment in a filing to the Mumbai Stock Exchange.

In a letter sent on Wednesday, USL CEO Praveen Someshwar described RCB as a “valuable and strategic asset”. However, he said it needed to be reviewed as it was “not directly related to our core alcobave business”.

“This decision demonstrates both USL and Diageo’s commitment to reviewing and strengthening their business portfolios in India,” Someshwar said. ’

The review process will extend to Royal Challengers Sports Pvt Ltd, which owns both the men’s and women’s teams, and is expected to conclude by March next year.

RCB won the IPL title for the first time in June this year in the famous T20 cricket league established in 2008. According to Bloomberg News, the team’s owners are now “considering the possibility of selling part or all of the club’s ownership” at a valuation of up to two billion dollars.

But after the celebration of victory, there was a sad moment for RCB. A day after winning the final in Ahmedabad, Bangalore’s M. At least 11 fans were killed and more than 50 injured when a scuffle broke out outside the Chinnaswamy Stadium. Thousands of people took to the streets to welcome their beloved hero Virat Kohli and the winning team back home.

Prime Minister Narendra Modi expressed grief over the incident, calling it “absolutely heartbreaking”. Skipper Kohli also wrote on social media that he was “wordless and extremely traumatised”.

This review and decision on the potential sale of RCB is expected to be the biggest commercial deal in the history of Indian sports.