Jindal In Line For RCB Swoop

Royal Challengers Bangalore owned by the Diageo group,could change ownership hands after JSW Steel chairman, Sajjan Jindal, confirmed his interest in acquiring an IPL team.

However, according to an Economic times report, the worth of the side (RCB) was around $100m (Rs 634 crore), but the negotiations between the Diageo group, the current owners of the Franchise, and the JSW group resulted in the Jindal group actually having a much ‘lesser’ amount according to  ESPN Cric info.

“Cricket is the number one sport in our country, so there is an idea to acquire a team… an IPL team. But I cannot comment which team it would be,” said the 55 year-old.

“Moneywise, I don’t think that is the issue (because) the idea is that we want to take some credible team so that we can promote sports,” he told reporters. On being asked if that side would indeed be the Bengaluru based outfit, he just said: “That depends on them (RCB).”

Vijay Mallya’ UB group had initially bought the Royal Challengers Bangalore for $111.6 million, making it the second most expensive in the league after Mumbai Indians, but ever since Vijay Mallya’s troubles over his assets, the UB group along with the franchise was bought by the London Headquartered liquor giants Diageo plc. Economic Times report was also quoted saying that  “due diligence work” was in progress and the Jindal group wanted to see off the 2015 season of the IPL.

If the Jindal group indeed takeover the franchise, they would be owning a second sports team from the city, after the I league team Bengaluru FC.

Editor : Akanksha Agarwal