The rumour mill went into overdrive recently, linking Karnataka's Deputy Chief Minister, DK Shivakumar, to a potential purchase of the Royal Challengers Bengaluru (RCB) IPL franchise. The speculation arose after reports suggested that Diageo, the parent company of RCB, might be considering selling the team following their recent IPL victory. However, Shivakumar has emphatically denied any interest in acquiring the team, delivering a memorable quip that has since gone viral.
"Why do I need RCB? I don't even drink Royal Challenge," Shivakumar told news agency ANI, dismissing the rumours with a touch of humour. This statement swiftly put an end to the speculation linking him to the RCB buyout. He clarified that while he has been a member of the Karnataka Cricket Association since his younger days, he simply doesn't have the time to manage an IPL franchise. He also stated that he had offers to be part of the management in the past.
Shivakumar's denial came on the heels of an official statement from Diageo India, the Indian subsidiary of UK-based Diageo Plc and the owners of RCB. On June 10, Diageo India clarified to the Bombay Stock Exchange (BSE) that reports of a potential sale were purely speculative and that they were not engaged in any such discussions. Company secretary Mital Sanghvi informed the regulating body that the media reports were not factual and the company wasn't pursuing such discussions.
Despite these clear denials, the rumours persisted, fuelled by a Bloomberg report suggesting Diageo was exploring options for the franchise after RCB's long-awaited IPL title win on June 3. The market reacted noticeably, with shares of United Spirits, Diageo's Indian subsidiary, experiencing an uptick as the sale rumours circulated. This prompted the BSE to seek clarification from Diageo, further highlighting the seriousness with which the reports were being treated.
The timing of these rumours is also noteworthy. They surfaced shortly after a tragic stampede in Bengaluru during RCB's victory celebrations, which claimed 11 lives and left many injured. The Karnataka government, including Shivakumar, faced criticism over the handling of the event and crowd control measures. While Shivakumar has expressed deep sorrow over the incident and promised new crowd control laws, the tragedy has cast a shadow over the RCB's victory and raised questions about the state government's priorities.
In the aftermath of the stampede, a blame game has ensued, with the opposition accusing the government of mishandling the celebrations. Shivakumar, in turn, has accused the opposition of politicising the tragedy. The state government has initiated a judicial probe into the incident, led by a retired High Court judge.
The RCB's maiden IPL title win was a momentous occasion for the team and its fans, ending a 18-year drought. The victory united Karnataka in celebration. However, the subsequent tragedy and the rumours of a potential sale have created a complex situation, diverting attention from the team's achievement.
While the potential sale of RCB and Shivakumar's involvement remain firmly in the realm of speculation, the episode highlights the intense interest and high stakes surrounding IPL franchises. The league has grown into a major sporting and business enterprise, attracting significant investment and generating substantial revenue. The valuation of RCB, estimated to be in the billions of dollars, underscores the franchise's brand value and potential.
