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This is in response to your email asking for clarification about media reports regarding a possible sale of RCB. The company would like to make it clear that these media reports are based on speculation, and it is not involved in any such talks,” the USL website reported.
"The company wants to make it clear that the media reports mentioned are based on guesses, and no such talks are happening," said Mital Sanghvi, the company secretary, in a message to the Indian Stock Market regulator. “This is just to keep you informed and for your records.”
These discussions also started when RCB became involved in a controversy following a tragic incident outside the Chinnaswamy Stadium on June 4. A celebration had been organised by the franchise in Bengaluru, a day after their IPL win, which attracted nearly 2.5 lakh fans around the home stadium. However, the situation turned chaotic when a stampede occurred, resulting in the loss of 11 lives and injuries to 56 others. The incident was criticised by local authorities and led to increased scrutiny regarding event safety. As a result, the franchise’s ownership has come under pressure due to the reputational damage caused by the tragedy.
As per the reports, Diageo made this statement in reply to a question from the Bombay Stock Exchange, where the company is listed. Ever since rumours started about a possible sale of the RCB team, the share price of United Spirits, the Diageo-owned company that owns RCB, has gone up noticeably.
On Tuesday, Bloomberg reported that Diageo might be thinking about selling the IPL-winning RCB team. This news came soon after RCB won their first-ever IPL title on June 3, after 17 years of trying. Sadly, the victory celebrations in Bengaluru on June 4 turned tragic, with 11 people losing their lives and many others getting injured.
“I won’t be surprised if it’s sold for a higher amount,” he said, explaining that GT’s valuation shouldn't be compared, as that deal happened a year ago. The report about the sale is still based on speculation, as a Diageo official clarified in their reply to the BSE.
“No final decision has been made, and they might even choose not to sell the team,” said the people, who asked not to be named because the information is private, according to the Bloomberg report.
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