RCB’s Diageo Addresses Sale Rumors After IPL Success

Following Royal Challengers Bengaluru’s (RCB) first IPL championship, rumors of a sale of the franchise gained traction. Diageo India, the company that owns RCB, has responded to these reports. Diageo, in a statement to the Bombay Stock Exchange (BSE), clarified that the reports are speculative and that the company is not pursuing any sale discussions. The clarification was prompted by a Bloomberg report suggesting that Diageo had initiated early talks about selling the franchise, potentially for a $2 billion valuation. The speculation caused a jump in United Spirits’ shares, leading Diageo to issue a formal notification to the BSE. The response also comes in the context of increased scrutiny surrounding RCB following a fatal stampede at a Bengaluru victory celebration, where numerous people were killed and injured. The incident has raised concerns about event management and safety protocols.