The British company Demono PLC is thinking of selling part or all its property in the IPL Chamoions Royal Challengers Bengaluru (RCB), has reported Bloomberg. Diodeo manages RCB through its Indian company, United Spirits Ltd.
The company may be looking for a deal with a value of a maximum of $ 2 billion ( £17,000 crore), according to Bloomberg. There are still conversations in the early stages and no final decision was made, the publication added.
Livemint could not verify the development independently.
After the news about the possible sale on 10 June, the stock price of United Spirits increased by 3.3% in BSE.
This is when the Indian Ministry of Health insists on the promotion of tobacco and alcohol to stop via cricket. Although drink advertisements are prohibited, companies like Demono soft drinks advertise with the help of top players.
RCB, one of the original IPL teams, was owned by Vijay Mallya for the first time. Mallya, then chairman of United Breweries Group and United Spirits Limited (USL), bought the RCB franchise in 2008 for $ 111.6 million during the inaugural IPL auction.
He was the face of the franchise until 2016, when legal and financial problems, including unpaid loans, led to his exit from ownership. Diodeo then took over the team in 2016.
RCB's social media
Royal Challengers Bengaluru, for which Virat Kohli played during his IPL career, was previously the most followed IPL team on Instagram, which crossed 18 million followers. However, because after 18 years they have won the IPL Collection, their social media accounts further exploded. They currently have nearly 22 million followers on Instagram.
They are ahead of Chennai Super Kings (18.8 million) and Mumbai Indians (18.4 million).
In November 2023, RCB was behind both teams, but received a rapid increase due to strong fan support and creative online messages. RCB reached 17 million followers in March 2024 and added another million in the same month.
RCB -Controverse
Nikhil Sosale, head of marketing and income of RCB, was arrested after the sampede of 4 June in M Chinnaswamy Stadium that killed 11 people.
Sosale is one of the many arrested after the tragic rush during RCB's IPL Victory Celebration. Sosale was picked up by the Central Crime Branch at 4:30 am from the airport.
His lawyers told the Karnataka High Court that the arrest had been undertaken under the direct order of Minister President Siddaramaiah and not by a good investigation.
However, the court said that Interim -Borgtocht could not be granted unless it was proven that the arrest was illegal.
