IPL: Vijay Mallya says insanity paid off as RCB grows from Rs 450 crore to Rs 16,500 crore
Vijay Mallya, the previous proprietor of Royal Challengers Bengaluru, took to X to mock his critics after his former workforce was bought at a staggering valuation of Rs 16,500 crore on Tuesday, March 24. The Bengaluru-based franchise was purchased by a high-profile consortium led by the Aditya Birla Group, in partnership with The Times of India Group and Bolt Ventures.
Mallya revealed that when he had initially purchased the franchise for Rs 450 crore in 2008, many criticised and laughed at his determination to spend money on a cricket workforce, calling it a conceit undertaking. Taking a victory lap on Thursday, March 26, Mallya mentioned it was immensely gratifying to see his “madness” develop almost 37 instances to Rs 16,500 crore.
“I would like to heartily congratulate the new owners of RCB. I wish them the very best and Godspeed with the most valuable IPL franchise. When I bought the franchise in 2008 for INR 450 crores, most people laughed at me and criticised my investment as a vanity project. Behind my much touted madnesses was building the Royal Challenge brand and hence I named the franchise RCB,” Vijay Mallya wrote on X.
“Immensely gratifying to see my INR 450 crore investment grow to INR 16,500 crores. RCB will always remain a part of my DNA with indelible memories, including picking the young Virat Kohli, who is now among the best in the world. To all RCB fans who came on board during my stewardship and beyond, a grateful thank you, and please continue to support RCB, the Lion of Bengaluru. Namaskara,” he concluded.
IPL: THE SALE OF RCB AND RR
The winning bid for RCB was led by the Aditya Birla Group, headed by Kumar Mangalam Birla, in partnership with The Times of India Group. The consortium additionally consists of Bolt Ventures, led by American sports activities investor David Blitzer, and international personal fairness big Blackstone Inc..
The acquisition was a part of a historic double-header day for the IPL, with Rajasthan Royals additionally being bought for USD 1.63 billion to a US-based consortium led by entrepreneur Kal Somani, reportedly backed by the Walton and Ford household pursuits.
The RCB deal, nevertheless, stays topic to regulatory approvals from the Board of Control for Cricket in India and the Competition Commission of India. It marks a major transition from the earlier house owners, United Spirits Limited, a subsidiary of Diageo, which had earlier termed the franchise a non-core asset.
The sale displays the IPL’s increasing monetary ecosystem, with the league’s total valuation not too long ago estimated at USD 18.5 billion, pushed by rising revenues, sponsorships, and media rights.
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