Who Is The Owner Of RCB?
The Royal Challengers Bangalore (RCB) is undoubtedly one of the most popular franchises in the Indian Premier League. The Bangalore-based franchise has not won the IPL trophy to date but they have finished runners-up thrice.
RCB made it to the final of the IPL seasons in 2009, 2011, and 2016, losing to the Deccan Chargers, the Chennai Super Kings, and the Sunrisers Hyderabad, respectively.
Players like Virat Kohli, AB de Villiers, Devdutt Padikkal, Dale Steyn, Chris Morris, Yuzvendra Chahal, Navdeep Saini, Umesh Yadav, and several others are a part of the RCB squad in IPL 2020. The team has made a good start to this season as RCB have won three of their first four games.
It was well-known that Vijay Mallya had bought the RCB franchise in 2008. However, because of his financial problems, he had to relinquish his position as the owner of the team.
Soon, there was a new management heading RCB, but very few fans have an idea of it. In this article, we will glance at the details of the new owners of the Royal Challengers Bangalore IPL team and also the profit that they made from the franchise in the previous financial year.
Who is the owner of RCB?
Many fans believed this myth that Vijay Mallya was the owner of the Royal Challengers Bangalore. He was the director of the team, but the real owners were United Spirits, an Indian alcoholic beverage company.
United Spirits is a subsidiary of London-based company Diageo. The headquarters of United Spirits are at the UB Tower in Bengaluru.
USL is listed on the stock exchange, while Diageo has a listing on the New York Stock Exchange as well as London Stock Exchange.
So, although Vijay and his son Siddharth Mallya appeared to cheer for RCB in their matches, the United Spirits were the owners of the franchise.
Sanjeev Churiwala was the chairman of the franchise, but Diageo India CEO Anand Kripalu has replaced him now. Diageo’s net income in 2019 was 3.337 billion pounds.
How much money does the Owner Of RCB earn from the IPL?
As mentioned ahead Diageo made a massive profit in the 2019 year. However, the RCB franchise earned United Spirits INR 143 Crores in the 2018-19 financial year. The number rose to 313 Crores next year.
However, in IPL 2020, the team’s revenue might dip because there are no home matches, meaning there will be zero revenue from the fans attending the matches. Duff & Phelps estimated the net value of the Royal Challengers Bangalore to be around 595 Crores in a survey conducted last year.
These astronomical numbers show that RCB’s owners are indeed unaffected by their team’s dismal performance in the last three seasons. Nevertheless, the Bangalore-based franchise has kicked off the season in a brilliant manner.
The owners and the fans will expect them to continue their form in IPL 2020 and end their title drought. It will be interesting to see if RCB can win their first IPL title because the Delhi Capitals are also looking strong this year, whereas the Chennai Super Kings seem to have found their form.