MUMBAI: It looks like JSW Group will
soon be the new owner of Royal
Challengers Bangalore (RCB), the
Bangalore franchise of the Indian
Premier League (IPL).
The steel-to-power major has been
eyeing RCB, first owned by Vijay
Mallya and currently under Diageo Plc,
since some time.
Sajjan Jindal-controlled JSW is now in
advanced negotiations with Diageo to
acquire the team for about $100
million (Rs 634 crore), Economic Times
JSW already owns football team
Bengaluru FC, which is managed under
JSW Sports by its CEO Parth Jindal.
Led by Virat Kohli, RCB has a big fan
following. Its players include Chris
Gayle and AB de Villiers.
RCB is a wholly owned subsidiary of
United Spirits Ltd, which is majority
owned by Diageo Plc.
Mallya had bought the franchise for
$111.6 million in 2008.
Earlier, Deccan Chronicle Holdings had
to let go of their Hyderabad
franchise, Deccan Chargers. Sun TV
Network became the new owner and
named the franchise Sunrisers