'Why do I need RCB? I don't even drink Royal Challenge': Karnataka Deputy CM on buying IPL franchise - WATCH

NEW DELHI: Karnataka Deputy Chief Minister DK Shivakumar connected Wednesday enactment an extremity to speculation linking him with the acquisition of the Royal Challengers Bengaluru (RCB) franchise — and helium did it successful style.

His remarks followed a connection from Diageo India, the owners of RCB and the Indian subsidiary of UK-based Diageo Plc, addressing rumours astir a imaginable merchantability of the team."I americium not a huffy man. I'm conscionable a subordinate of the Karnataka Cricket Association from my younger days, that's all. I don't person time, though I had offers to beryllium portion of the management... Why bash I request RCB? I don't adjacent portion Royal Challenge," Shivakumar told quality bureau ANI.

Diageo India, the Indian subdivision of UK-based Diageo Plc and proprietor of the IPL franchise Royal Challengers Bengaluru (RCB), has firmly rejected rumours of selling the team. In a missive addressed to the Bombay Stock Exchange (BSE) and its Surveillance Department connected Tuesday, June 10, a Diageo India typical stated that the media reports suggesting a imaginable merchantability are purely speculative.

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"The institution would similar to clarify that the aforesaid media reports are speculative successful quality and it is not pursuing immoderate specified discussion," Mital Sanghvi, the institution secretary, informed the regulating assemblage of the Indian Stock Market.

"This is for your accusation and records."According to a Cricbuzz report, Diageo's connection was successful effect to a query from the Bombay Stock Exchange, wherever the institution is publically listed. Since speculation astir a imaginable merchantability of the RCB franchise began circulating, shares of United Spirits — the Diageo-owned institution that holds RCB — person seen a notable uptick.On Tuesday, Bloomberg reported that Diageo is considering selling the IPL champions. The study surfaced soon aft RCB’s maiden IPL rubric triumph connected June 3 — a milestone achieved aft 17 years — followed tragically by an incidental successful Bengaluru connected June 4, wherever celebrations turned fatal, leaving 11 dormant and galore injured. Though Diageo officially dismissed the merchantability reports arsenic "speculative," the ambiguity of their connection has sparked deeper speculation. A seasoned dependable successful India’s sports concern ecosystem suggested that “being a nationalist company, determination volition beryllium a batch of unit connected reputational damage,” hinting that Diageo could beryllium weighing its options much earnestly than publically admitted. There are besides murmurs astir Diageo valuing the RCB franchise astatine astir USD 2 billion. While immoderate manufacture insiders presumption that fig arsenic inflated — particularly erstwhile compared to Torrent’s acquisition of Gujarat Titans astatine astir INR 7500 crore (around USD 1 billion) — others disagree.

Lalit Modi, the designer of the IPL, told Cricbuzz that a USD 2 cardinal valuation for RCB is rather realistic."I volition not beryllium amazed if it is sold for a higher price," helium remarked, adding that comparing the RCB valuation to that of the newer Gujarat franchise isn’t an apples-to-apples comparison. "I volition not beryllium amazed if it is sold for a higher price," helium said , stating that the valuation of GT cannot beryllium compared present since it was a one-year-old deal. The merchantability study remains speculative, arsenic clarified by the Diageo authoritative successful the effect to the BSE. "No determination is last and they whitethorn determine against selling the team, the radical said, asking not to beryllium named arsenic the details are private," the Bloomberg study say