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.
breaking
- Anti-Terrorism Charges Filed Against Imran Khan’s Sister and Supporters
- Karnataka’s Title Defense Bolstered by KL Rahul, Prasidh Krishna
- Meeting of the “Murgi Trophy” Film Team with Chief Minister Hemant Soren
- Chief Minister Hemant Soren Invited as Distinguished Guest at the 15th Commencement of National Institute of Technology (NIT) Jamshedpur
- Proportional Spending to Fund Jharkhand’s Health Cottage Projects
- Chhattisgarh Police Neutralize 18 Maoists in Bijapur
- Robin Uthappa: Dhoni’s CSK Future and IPL Transition
- Dissent Grows: Pakistan Sees Protests Against Army Chief Munir
RCB’s Diageo Addresses Sale Rumors After IPL Success
By Report Wire