Latest news with #DiageoPlc
New Indian Express
12-06-2025
- Business
- New Indian Express
‘Why do I need RCB? Don't even drink Royal Challenge': DKS on IPL team buy
Shivakumar's comments came in the wake of reports suggesting that United Spirits, the Indian arm of UK-based Diageo Plc, was considering selling stakes in the RCB franchise.
News18
11-06-2025
- Business
- News18
'Why Do I Need RCB? I Don't Even Drink...': Shivakumar On IPL Team Buyout Rumours
Last Updated: Shivakumar's comments come just days after reports claimed that United Spirits, the Indian arm of UK-based Diageo Plc, was looking to sell stakes in the RCB franchise Karnataka Deputy Chief Minister DK Shivakumar on Wednesday dismissed rumours suggesting he is planning to buy the Royal Challengers Bengaluru (RCB) franchise, saying he has no interest in the IPL team. 'Why do I need RCB? I don't even drink Royal Challenge," Shivakumar said, referring to the popular liquor brand owned by United Spirits, the current owners of RCB. Speaking to the media, Shivakumar added, 'I am not a mad man. I'm just a member of the Karnataka Cricket Association from my younger days, that's all. I don't have time, though I had offers to be part of the management." #WATCH | Delhi | 'I am not a mad man. I'm just a member of the Karnataka Cricket Association from my younger days, that's all. I don't have time, though I had offers to be part of the management… Why do I need RCB? I don't even drink Royal Challenge," says Karnataka Deputy CM… — ANI (@ANI) June 11, 2025 He further explained that he is already too busy to manage his own educational institutions. 'I don't have time for my own education institutions. I have resigned and left it for my other family members to take care of them," he said. Shivakumar's comments come just days after media reports claimed that United Spirits, the Indian arm of UK-based Diageo Plc, was looking to sell stakes in the RCB franchise. The speculation gained traction quickly, leading to questions about who might be in talks to acquire the team. However, United Spirits, which owns the Royal Challengers Bengaluru (RCB) franchise, has firmly denied reports suggesting it is looking to sell its stake in the team. The company, which is the Indian arm of UK-based liquor giant Diageo Plc, issued an official statement to clear the air after media reports sparked speculation about a possible change in ownership. In a communication to the Bombay Stock Exchange (BSE) and the BSE Surveillance Department, dated 10th June 2025, the company stated: 'This has reference to your email communication dated 10th June 2025 seeking clarification from the Company on media reports in relation to potential stake sale of RCB. The Company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions." First Published:
Time of India
11-06-2025
- Business
- Time of India
RCB to be sold? Diageo weighs options for stake sale in IPL 2025 winner
Diageo Plc is considering options for its ownership of the Indian Premier League cricket franchise Royal Challengers Bengaluru , according to people familiar with the matter. The British distiller has been holding discussions with potential advisers as it weighs possibilities including a sale of part or all of the club, the people said. Diageo owns the team through its Indian unit, United Spirits Ltd ., and may seek a valuation of as much as $2 billion, the people said. No decision is final and they may decide against selling the team, the people said, asking not to be named as the details are private. A spokesperson for Diageo declined to comment. A representative for United Spirits didn't respond to requests for comments outside normal business hours. The discussions come at a time when India's health ministry has been pushing to ban promotion of tobacco and alcohol brands in the IPL, and stop indirect promotion of other unhealthy goods by sports personalities. Explicit advertising of tobacco and liquor products is prohibited in India, but firms such as Diageo have promoted other products such as soda using top cricketers. One of the founding teams of the IPL, RCB was initially acquired by Vijay Mallya, a beer tycoon whose Kingfisher Airlines Ltd . folded in 2012 after failing to pay creditors. Diageo eventually took over RCB after buying Mallya's spirits business. RCB recently won the IPL for the first time. The team's biggest star is Virat Kohli , who has one of the largest social media followings in the world for an athlete. The IPL's surging valuations have made team ownership one of the most sought-after assets in sports. A sale could set a benchmark for future deals in what is now one of the world's fastest-growing sports leagues. The IPL has evolved into a global entertainment and advertising behemoth, rivaling the National Football League and the English Premier League in commercial scale. The league's short, three-hour matches draw hundreds of millions of viewers across India and globally. In the US, Diageo's largest market, tariffs and a consumer slowdown have weighed on premium liquor sales. A divestment could unlock capital at a time when the company is streamlining operations and reassessing non-core assets globally.
NDTV
10-06-2025
- Business
- NDTV
RCB Owners Looking To Sell Franchise After IPL 2025 Win: Sources
Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB), just a week after winning the 2025 title, could be looking at new owners. Sources have told NDTV that the franchise's current owners, Diageo Plc, are out in the market, looking to sell the franchise, either partially or fully. The decision comes in the wake of the high that the brand has witnessed after the team won its maiden IPL title, putting an end to the 18-year-long hiatus. RCB is run by United Spirits Ltd in India, through Diageo Plc, which is to are already in talks with potential investors. Though there's no official information on the valuation of the franchise that has come yet, it has been reported by Bloomberg that the owners might demand a price as high as USD 2 billion (approx. INR 16,834 crores) for complete sale. British distiller and United Spirits Ltd.'s parent Diageo Plc is evaluating options to sell a partial or full stake in Royal Challengers Bengaluru, according to people familiar with the matter. The liquor giant is exploring ways to monetise the IPL franchise after its recent title win, the people said, adding, Diageo is talking to potential advisors to manage the deal. As the news of RCB's potential sale broke, the sentiments also gave a boost to United Spirits' shares a boost. The stock prices went up as much as 3.3% on Tuesday morning. However, the decision wether to sell the franchise, or not, isn't final yet. Right after the high of the IPL title triumph, RCB also hit a low when the franchise's title celebrations at the M Chinnaswamy Stadium in Bengaluru turned fatal for 11 fans. The loss of lives in the celebrations saw the euphoria sink dramatically. How Diageo Bought RCB When the franchise started in 2008, it was originally bought by Vijay Mallya, who used to own Kingfisher Airlines and was one of the most renowned figures in India's liquor industry. Mallya found himself embroiled in a debt trap that brought his empire crashing down, giving Diageo an opportunity to buy RCB through its subsidiary in India, United Spirits. RCB remains one of the most followed sporting teams on social media across the globe. In cricket, the franchise has the biggest fanbase despite the lack of success it has had in the T20 league.
Time of India
10-06-2025
- Business
- Time of India
RCB to be sold? Diageo weighs options for stake sale in IPL 2025 winner
Synopsis RCB: Diageo Plc is exploring options for its IPL team Royal Challengers Bengaluru, including a potential sale valued at up to $2 billion. Discussions are underway amid regulatory pressure in India on alcohol brand promotions in sport. A sale could reshape IPL franchise valuations as Diageo reconsiders global priorities amid slowing liquor sales.
