‘Why do I need RCB? I also do not drink Royal Challenge ‘: Karnataka Deputy CM on buying IPL franchise – Watch | Cricket news
New Delhi: Karnataka Deputy Chief Minister DK Shivkumar on Wednesday ended speculation to connect Royal Challengers Bangalore (RCB) franchise with franchisees – and they did it in style. His remarks addressed rumors about the possible sales of the team following a statement from the owners of Diazio India, RCB and the UK -based Diazio PLC’s Indian subsidiary.“I am not a crazy man. I am a member of the Karnataka Cricket Association for my short days. I don’t have time, although I had to be a part of the management … I need RCB? Why do I need RCB? I don’t even drink Royal Challenge,” Shivkumar told news agency Annie.Diazio India, the owner of the Indian branch of the UK -based Digio PLC and the IPL franchise Royal Challengers Bangalore (RCB), has strongly rejected the rumors of selling the team. In a letter addressed on Tuesday, June 10 to the Bombay Stock Exchange (BSE) and its monitoring department, a representative of a Diazio India said that media report suggesting potential sales is purely betting. The company’s secretary informed the regulation body of the Indian stock market, “The company would like to clarify that the aforesaid media report is speculative in nature and it is not chasing any such discussion.” “This is for your information and record.”
According to the Cricbuzz report, the statement of DIEGEO was in response to a query from the Bombay Stock Exchange, where the company is publicly listed. Since there was speculation about the possible sales of RCB franchise, a remarkable optic company owned by Diazio, who holds the share-RCB of United Spirits.On Tuesday, Bloomberg reported that Diazio is considering selling IPL champions. The report appeared soon after winning the first IPL title of RCB on 3 June – a milestone achieved after 17 years – sad after an incident in Bengaluru on June 4, tragically, where the ceremony became fatal, 11 was dead and many were injured. Although Diazio officially rejected the sales reports as “speculative”, the ambiguity of his statement has given rise to deep speculation. An experienced voice in India’s Sports Business Ecosystem suggested that “being a public company, there would be a lot of pressure on reputed damage,” stating that Diazio could weigh his options more seriously than being publicly recruited. There are also a lot of dijies that evaluate RCB franchise at about 2 billion USD. While some industries internal formulas see that figure inflated – especially when Torrent’s Gujarat Titans in approximately INR 7500 crore (about 1 billion USD) – others disagree.
IPL architect Lalit Modi told Cricbuj that the evaluation of USD 2 billion for RCB is quite realistic.“I won’t wonder if it is sold for a high price,” he commented that comparing the new Gujarat franchise’s RCB valuation compared to the apple-to-APPL. He said, “I won’t wonder if it is sold for a higher price,” he said that the evaluation of GT cannot be compared here because it was a year old deal. The sales report remains speculative, as explained by the Diazio officer in response to the BSE. According to Bloomberg report,
