India, Nov. 6 -- Royal Challengers Bengaluru (RCB), the reigning Indian Premier League (IPL) champions and also former winners of the Women's Premier League (WPL), are set to go under the hammer after parent company Diageo initiated steps to divest its ownership in the franchise.

According to a report by ESPNCricinfo, Diageo announced that it had begun a "strategic review" of its investment in RCB through Royal Challengers Sports Private Limited (RCSPL), the entity that owns both the men's and women's teams. The announcement was made in a filing with India's market regulator, the Securities and Exchange Board of India (SEBI), on Wednesday. RCSPL is a wholly owned subsidiary of United Spirits Ltd (USL), which in turn is controlled by Diag...