Karnataka Deputy CM DK Shivakumar dismissed rumors about him purchasing the Royal Challengers Bengaluru (RCB) franchise in a humorous way. His statement came following speculation that part or all of the IPL franchise was up for sale. Shivakumar jokingly stated, “I am not a mad man. 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.” The British distiller, Diageo India, which owns RCB, was reported to be in discussions about selling the club for up to $2 billion. However, Diageo clarified that the reports were merely speculative and they were not pursuing any such discussion. The rumors surfaced shortly after RCB won the IPL trophy, but celebrations turned tragic when a stampede outside the stadium resulted in 11 deaths and 56 injuries. The shares of United Spirits, the owner of RCB, saw a 3.3% increase in price following the rumors. The BSE sent a mail to Diageo, who responded by stating that the reports were speculative.
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