Is RCB up for sale? Lalit Modi fuels Bengaluru-based franchise's sale rumours with social media post

Vijay Mallya had owned RCB from its inception before liquor major Diageo Plc bought it in 2016.

It was on June 3 this year that the Royal Challengers Bengaluru (RCB) ended their long-wait for maiden Indian Premier League (IPL) crown when they beat Punjab Kings in the final en route to breaking the title jinx.

But, a day after the final in Ahmedabad which saw them end their 17-year-wait for IPL, a stampede happened outside their base -- the Chinnaswamy Stadium in Bengaluru -- which left 11 people dead as lakhs surged to celebrate the victory.

But as per reports, ending their title jinx had reportedly propelled the Bengaluru-based franchise valuation to $269 million.

RCB dethroned sentimental favourites Chennai Super Kings from the top spot, as per reports released in July.

However a recent social media post from ex IPL commissioner Lalit Modi has fueled speculation about a possible change in the ownership of the franchise.

"There have been a lot of rumour about the sale of an IPL franchise specifically RCB - well in the past they have been denied. But it seems the owners have finally decided to take it off their balance sheet and sell it," Modi posted on X, triggering a wave of speculations.

Vijay Mallya had owned RCB from its inception before Diageo Plc bought it in 2016. Earlier also there were rumours that the liquor barons were planning to sell the IPL club, especially in the aftermath of the stampede in the post-victory celebrations at the Karnataka State Cricket Association -owned Chinnaswamy Stadium.

In his social media post, Modi had also drawn attention of the potential appeal for global investors.

"I am sure one of the Big Global funds or a Sovereign Fund would desperately like to have them as part of their investment strategy and India strategy. There can be no better investment opportunity I could think of then this one. Good luck to whoever can get their hands on to it. It definitely will set a new record valuation which will just go to show that IPL is the not only the fastest growing Global Sporting league but also the most valuable," added Modi.

Though Modi's post has created a buzz in the social media, Diageo India declined to comment on market speculation.

But for now, the rumour mongers are having a gala time in the internet.