Diageo Drops Bomb, issued an official statement on the sale of RCB after Bengaluru Stampede

Diage India, an Indian branch of Diageo PLC based in the UK and the owner of the Royal Challengers Bengaluru (RCB)He has responded to recent reports that suggest that he is exploring the sale of all his participation in the IPL team.

At the beginning of the week, a Bloomberg report stated that the Bengaluru-based franchise could be evaluated up to $ 2 billion and Diageo is exploring the sale of the franchise to release funds and focus on its main sales operation of premium liquor sales.

RCB for sale?

The report stated that the transfer of the company took place in the midst of the increasing pressure of the Ministry of Health to curb indirect advertising during popular events such as the IPL.

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Diageo has been using non -alcoholic and soda extensions for visibility, but the strictest ads of the ministry proposed by the ministry is likely to stop surrogate advertising.

By responding to recent reports, Diageo has now denied them categorically. In a letter to the Bombay (BSE) and BSE surveillance department on Tuesday (June 10), an Indian Diage official said that media reports on the sale of RCB are speculative in nature.

“The company would like to clarify that the reports of the aforementioned media are speculative in nature and that it does not follow any discussion. This is for your information and records,” said Mital Sanghvi, the company’s secretary, told BSE as Cricbuzz said.

The company’s response was a response to an EBSE email. Diageo is registered with the EBSE and the actions of the United Sports, owned by Diageo, saw an increase after reports arising.

RCB wins his title IPL of single

The reports appeared a few days after RCB won its title IPL of single. After 17 years of disappointment and mess that also lost three finals, RCB finally put their hands on the IPL trophy. It Skateboard-The side beat Punjab Kings for 6 runs in the final of June 3.

The historical moment, however, became a nightmare a few hours later after a stampede during the victory in Bengaluru left 11 dead and more than 30 injured. The incident hour took place on the outskirts of M. Chinnaswamy’s stadium, while the team was busy celebrating at the stadium.

Also read: RCB for sale after Bengaluru Stampede as a diageo was formed by forms with the IPL franchise