Diageo Dismisses Rumors of Royal Challengers Bengaluru Sale

Following Royal Challengers Bengaluru’s (RCB) recent IPL win, speculation regarding the franchise’s future emerged. Diageo India, the owner of RCB, has moved to dispel these rumors. The company announced to the Bombay Stock Exchange (BSE) that reports of a potential sale are unfounded. Diageo asserted that it is not currently considering any such transaction. This clarification came after a Bloomberg report suggested Diageo had initiated preliminary talks about selling RCB, possibly for a valuation of $2 billion. This news led to a rise in United Spirits’ shares, prompting Diageo to issue a formal statement to the BSE. This situation is made more sensitive by the recent tragic stampede at a Bengaluru celebration of the team’s victory, which resulted in numerous deaths and injuries. The incident has drawn public and administrative scrutiny of event management and safety protocols.