I don't even drink Royal Challenge: DK Shivakumar refutes reports on buying RCB
Shivakumar said that he has been a member of the Karnataka Cricket Association since his younger days
Putting an end to rumours about him buying the Royal Challengers Bengaluru (RCB), Karnataka Deputy Chief Minister DK Shivakumar on Wednesday (June 11) made it clear that there is no such possibility, adding that he does not have time for such things.
‘Not a madman’
Shivakumar, known for his outspoken nature, also added a dash of humour to his response saying that he does not even drink Royal Challenge. He said that he has been a member of the Karnataka Cricket Association since his younger days.
"I am not a madman. I'm just a member of the Karnataka Cricket Association from my younger days, that's all. I don't have time, though I had offers to be part of the management... Why do I need RCB? I don't even drink Royal Challenge," Shivakumar told news agency ANI.
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How speculation started
The clarification comes days after Bloomberg reported that the UK-based Diageo Plc, which owns RCB through its Indian unit, United Spirits Ltd was holding discussions with potential advisers on selling RCB and may seek a valuation of $2 billion.
In the wake of the speculations, the price of shares of United Spirits, registered with the Bombay Stock Exchange (BSE) shot up by 3.3 per cent, reaching a five-month high on Tuesday. This prompted BSE to seek clarification from Diageo which then responded by stating that the reports were false and totally speculative.
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‘Speculative reports’
According to a Hindustan Times report, Mital Sanghvi, the company secretary, wrote to BSE stating that the company was not holding any such discussion. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records,” said Sanghvi as quoted in the report.
The development comes at a time when RCB is facing legal action after 11 people died and several others were injured in a stampede near the M Chinnaswamy Stadium on June 4 during a felicitation event for its team which won its maiden IPL after 18 years.
The incident has triggered a blame game between the Karnataka government and police as both are holding the other responsible for the tragedy.