Gulte Movie News And Politics
One of the popular teams in the IPL and the 2025 title winners, Royal Challengers Bengaluru, may get a new owner soon. Reportedly, Diageo Plc, which owns RCB, is planning to sell a part or all of its stake in the franchise. Interestingly, this report comes in less than a week after the stampede that happened at Chinnaswamy Stadium, killing 11 people and leaving several others injured.
Diageo is a British company which owns RCB through its Indian arm, United Spirits Ltd. It was initially owned by Vijay Mallya but Diageo took it over when Mallya’s businesses collapsed.
According to the reports, RCB is holding talks with its advisors, exploring all possibilities, which include a full-stake sale. We hear that RCB’s value has touched $2 billion after its maiden men’s title win in 18 years.
Sources say that Diageo is considering selling a stake in the team to revive its core alcohol business in the United States. The US was the biggest market for Diageo, but the sales have come down in recent times due to high tariffs and a decline in consumer demand for premium alcohol.
A few other reports revealed that the Indian government doesn’t want any brand that indirectly/directly promotes liquor or tobacco in cricket tournaments, including IPL. As Diageo represents an alchol brand, it is apparently facing pressure from the government.
Meanwhile, netizens express divided opinions on this issue. Some people criticised the management for staying silent on the 11 deaths and the entire stampede incident, but holding talks to sell the team on the other side. They argued that these owners care only for money and nothing else.
For the unversed, RCB hosted victory celebrations at Chinnaswamy Stadium on June 4, after winning the IPL title. This resulted in around 3 lakh people gathering outside the stadium, causing a stampede-like situation. 11 people were killed, and many others were severely injured in the incident.
Tags RCB
