Earlier this month, the Bengaluru-based outfit won its maiden IPL title. The Rajat Patidar-led side beat Punjab Kings by 6 runs in a thrilling final at the Narendra Modi Stadium. Just days after RCB won their maiden IPL trophy, Diageo Plc is looking to part ways with the franchise, according to Bloomberg. The British company owns the team through its Indian subsidiary, United Spirits Ltd.
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"The Indian Premier League (IPL), being India’s most viewed sporting event, sends a contradictory message to the public about health and fitness when it allows the direct or indirect promotion of tobacco and alcohol," the ministry had said in a statement earlier this year.
RCB's huge market appeal:
The franchise is one of the eight original teams founded by the BCCI before the start of the IPL in 2008. The team was first owned by liquor tycoon Vijay Mallya. Later, Diageo took charge of the team after taking over Mallya’s beleaguered spirits empire.
The report added that the British company is tempted to sell RCB because of the franchise's soaring value. Things are not going well for the company at present due to a decline in premium liquor sales in its largest market, the United States. As a result, it is looking to sell the IPL franchise in order to free up funds and focus on its main operations.
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