Intro
RCB’s massive valuation vindicates early investment, silencing critics and doubters
New Delhi
Vijay Mallya on Thursday took a swipe at critics who once mocked his investment in Royal Challengers Bangalore as a “vanity project,” after the franchise was sold in a blockbuster deal nearing $2 billion.
Reacting to the development, Mallya said the staggering valuation of the franchise validated his long-term vision when he purchased it for ₹450 crore in 2008. United Spirits Ltd recently announced the sale of RCB in a ₹16,660-crore all-cash deal to a consortium comprising the Aditya Birla Group, The Times Group, Bolt Ventures and Blackstone.
“When I bought the franchise in 2008, most people laughed at me and criticised my investment as a vanity project,” Mallya wrote in a post, adding that his intention was always to build the Royal Challenge brand through the team. He described the growth in valuation as “immensely gratifying,” noting that the franchise’s rise reflects both commercial success and fan loyalty.
The overall transaction value is estimated to be close to ₹18,776 crore, factoring in additional payouts, including ₹540 crore linked to the Women’s Premier League and a five per cent commission payable to the Board of Control for Cricket in India.
Mallya also extended his best wishes to the new owners, calling RCB the “most valuable IPL franchise” and expressing hope for its continued success. Reflecting on his association with the team, he said RCB would always remain a part of his DNA, recalling key moments such as identifying a young Virat Kohli, who went on to become one of the world’s leading players.
Thanking fans for their unwavering support, Mallya urged them to continue backing the franchise, fondly referring to it as the “Lion of Bengaluru.”
Meanwhile, India continues its efforts to secure Mallya’s extradition from the United Kingdom in connection with financial cases. The businessman has previously stated his willingness to repay dues, while alleging lack of cooperation from banks and authorities.
