Diageo Denies Plans to Sell RCB

Diageo India has categorically denied reports of selling the Royal Challengers Bengaluru (RCB) franchise of the Indian Premier League (IPL). In a letter to the Bombay Stock Exchange (BSE), the company stated that media reports about the planned sale are speculative in nature.

The company's response comes after a report by Bloomberg, which stated that Diageo is exploring options to sell the RCB franchise. The report emerged after RCB's victory in the IPL and the subsequent tragedy in Bengaluru.

Reasons Behind the Speculation

There are many reasons behind the speculation, including reputational damage. The company has been looking at a valuation of USD 2 billion for RCB, but the response to the valuation is mixed, with some calling it an exaggerated value.

**Lalit Modi's Take

Lalit Modi, the creator of the IPL, believes that a 2 billion USD valuation is realistic. "I will not be surprised if it is sold for a higher price," he said.

RCB Officials Remain Silent

RCB officials have been incommunicado since the Bengaluru tragedy.