Did DK Shivakumar Buy RCB Franchise? Karnataka Dy CM Says, 'Not A Mad Man'

(MENAFN- Live Mint) Karnataka Deputy Chief Minister DK Shivakumar has firmly denied rumours about him purchasing the Royal Challengers Bengaluru (RCB) IPL franchise, responding with characteristic wit. Addressing the speculation, Shivakumar remarked,“Why do I need RCB? I don't even drink Royal Challenge,” making it clear that he has no interest in acquiring the team.

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The Congress leader added that although he has been a member of the Karnataka Cricket Association since his youth and had received offers to join the franchise's management, he simply does not have the time to get involved.

"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 DK Shivakumar as he refutes rumours of him buying the RCB franchise.

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The rumours surfaced shortly after reports emerged that Diageo Plc, the British distiller and current owner of RCB through its Indian unit United Spirits Ltd., is considering selling part or all of the franchise.

Industry sources revealed that Diageo is in talks with potential advisers to explore a sale, with the franchise's valuation estimated to be as high as $2 billion.

This speculation caused a noticeable rise in United Spirits ' share price on the Bombay Stock Exchange, prompting the company to clarify that these reports were purely speculative and that no formal discussions were underway.

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The RCB franchise, valued at over ₹8,600 crore (approximately $1 billion), has been in the spotlight recently not only due to ownership rumours but also following a tragic stampede involving fans in Bengaluru. 11 people died and 56 were injured after lakhs of fans crowded the Chinnaswamy Stadium to catch a glimpse of Virat Kohli, and Rajat Patidar-led team with the IPL trophy, that RCB won after 18 years.

The incident led to public outcry over the franchise's response and compensation offered to victims' families. Meanwhile, the franchise's senior management has largely remained out of public view, further fuelling speculation and criticism.

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