Diageo Denies RCB Sale Rumors Following IPL Victory

Following Royal Challengers Bengaluru's (RCB) recent IPL victory, speculation arose regarding the potential sale of the franchise. Diageo India, RCB's owner and a subsidiary of Diageo Plc, has addressed these rumors. In a statement to the Bombay Stock Exchange (BSE), Diageo clarified that reports of a sale are purely speculative, and the company is not pursuing any such discussions. This response came after a Bloomberg report suggested Diageo was in early talks about a potential sale, with an estimated value of $2 billion for the team. The news caused United Spirits' shares to rise, prompting the company to make a formal notification to the BSE. This clarification was made amidst increased scrutiny of RCB following a tragic stampede at a recent victory celebration in Bengaluru, which resulted in multiple fatalities and injuries, and prompted criticism of event management procedures.