Reports suggest that the owners of the Royal Challengers Bangalore (RCB) franchise are considering a partial or complete sale of the team, mere days after a tragic stampede in Bengaluru resulted in eleven fatalities. RCB is presently owned by Diageo Plc, the British distillery, via its Indian subsidiary, United Spirits Ltd.
According to Bloomberg, the beverage alcohol company might aim for a valuation of USD 2 billion and is currently engaged in discussions with financial advisers. However, it is important to note that no final decision has been reached, and a sale may not ultimately materialize.
This consideration for a sale comes as RCB finds itself embroiled in significant controversy. An event organized by the franchise to commemorate their IPL triumph turned tragic when a large crowd converged outside the M. Chinnaswamy Stadium, eager to witness a victory parade and felicitation announced by the franchise.
A stampede subsequently erupted outside the cricket stadium, leading to the deaths of eleven individuals and injuries to several others. The incident ignited widespread outrage across the nation, culminating in the filing of an FIR against RCB, the event organizer DNA Entertainment Networks Private Limited, and the Karnataka State Cricket Association.
Adding to the complexities, prior to the commencement of IPL 2025, the Indian Ministry of Health issued an advisory. This advisory urged the organizers of the popular cricket tournament to prohibit all tobacco and alcohol advertising, including surrogate promotions, during matches and broadcasts, citing pressing public health concerns.
Let’s see what happens next.
