British distiller and United Spirits’ Ltd.’s parent Diageo Plc is considering a partial or full stake in Royal Challengers Bengaluru, NDTVProfit reported quoting sources. The report says the liquor giant is exploring ways to monetize the IPL franchise after its recent title win and talking to potential advisors.
Royal Challengers, which was initially owned by liquor baron Vijay Mallya, is one of the earliest teams in the IPL. The NDTV report said Mallya used the IPL franchise to indirectly market his alcohol brands.
“After Mallya’s financial collapse, Diageo took over his company, United Spirits, in 2014. It then renamed United Spirits to Diageo India. The current deal talks are also a way for the British alcohol major to exit non-core businesses, as it reinforces focus on the alcohol brands that it owns,” the report said.
Diageo India owns the Royal Challenge, Antiquity Blue and McDowell’s brands of blended whisky, the Scotch brand Black & White, vodka brand Smirnoff, among others.
United Spirits, however, denied any such proposal in a stock exchange filing and said the reports are “speculative in nature.”
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Naresh Khanna – 10 February 2025
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