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RCB owner issues statement after sale rumours emerge following maiden IPL title win
After Royal Challengers Bengaluru (RCB) lifted their first-ever IPL title this year, media reports emerged stating that the team might be up for sale. RCB defeated Punjab Kings (PBKS) by 6 runs in the IPL 2025 final to end their 18-year-long drought. Immediately after this, news started doing the rounds of a possible sale of the franchise.
RCB's historic IPL 2025 win sparks sale speculation
However, the current owner of RCB, Diageo India, has denied all rumours. The company has clearly said that it is not looking to sell the RCB franchise. According to Cricbuzz, Diageo made this statement in a letter to the Bombay Stock Exchange (BSE) on Tuesday, 10 June. This clarification came after the BSE reached out to Diageo regarding the 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, the company secretary, was quoted as saying to BSE.
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Tragic incident in Bengaluru adds to the speculation
The speculation started when Bloomberg published a report earlier this morning suggesting that Diageo was looking for options to sell the RCB team. The report came just days after RCB's IPL 2025 victory on 3 June and a tragic stampede incident in Bengaluru on 4 June, where 11 people lost their lives during the celebrations.
There were reports that since the news of the potential sale emerged, Diageo's stocks have risen in value. Meanwhile, there are speculations that RCB's owner is exploring options to sell the franchise because of the recent incident that may have caused some reputational damage to the company. Some reports also claimed that Diageo was looking at a valuation of $2 billion for the IPL team.
'I will not be surprised if it is sold for a higher price,' IPL founder Lalit Modi was quoted as saying by Cricbuzz. As per Modi, the valuation being quoted in the media is not far off. RCB's IPL victory may have increased the brand value of the franchise. The Gujarat Titans team was recently sold for nearly $1 billion to Torrent Group.
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