RCB recently ended their 18-year long wait to win the IPL title.
Diageo Plc, owners of the Royal Challengers Bengaluru (RCB), have rubbished rumours of selling their Indian Premier League (IPL) franchise.
Last week, RCB ended their 18-year long wait to win the IPL crown. And on June 10, speculations started doing rounds that Diageo might be interested in selling the franchise, which is reportedly valued at $2 billion (Rs 17,132 crore).
According to Cricbuzz, Diageo India have written to the Bombay Stock Exchange (BSE) and the BSE Surveillance Department, refuting such rumours.
“The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records,” Mital Sanghvi, Diageo India Vice President of Treasury & Company Secretary, wrote.
Reports are also claiming that Diageo might be dousing the fire that was lit during RCB’s maiden IPL title win celebrations in Bengaluru.
The event, which saw around 2.3 lakh people gather in and around the iconic Chinnaswamy Stadium, turned deadly as 11 fans lost their lives due to an unfortunate stampede while many were left injured.
Talking about the evaluation of the franchise, it’s understood that realistically, RCB might be valued at around $1 billion. But according to Lalit Modi, the founder and first chairman of IPL, the newly crowned champions might actually fetch around $2 billion.
“I will not be surprised if it is sold for a higher price,” Modi said, while also suggesting that Gujarat Titans being bought by Torrent Group for Rs 7,500 crore (67%), which happened this year, shouldn’t be the barometer for evaluation.
It is worth mentioning here that Virat Kohli, one of the finest athletes in the world, is the face of RCB. As a result, their fan base appears to be the largest of any franchise cricket team.