British Spirits Giant Diageo Plc is reportedly exploring the possibility of selling all of its stake in the ipl franchise Royal Challengers Bengaluru (RCB).
Earlier this month, the Bengaluru-Based Outfit Won Its Maiden IPL Title. The Rajat patidar-Led Side Beat Punjab Kings By 6 Runs in a thrilling final at the Narendra Modi Stadium. Just days after rcb won their maiden ipl trophy, diegeo plc is looking to part ways with the franchise, according to bloomberg. The British Company Owns The Team Through Its Indian Subsidiya, United Spirits Ltd.
The company has alredy started discusations with advisers. The report stated that the franchise could be valued at up to $ 2 billion. The British Company’s Move Comes as It Faces Regulatory Pressure from the Union Health Ministry to Curb Indirect Advertising of Alcohol during Major Sporting Events like the IPL.
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The company has history has been followed soda and non-alcoholic brand extensions to maintain visibility under existing restrictions. However, even that strategy could be prohibited under stricter advertising norms.
“The Indian Premier League (IPL)Being India’s Most Viewed Sporting Event, Sends A Contradictory Message to the Public About Health and Fitness when it allows the direct or indirect promotion of tobacco and alcohol, “The MINISTRY HAD SAID SAID SAID Statement earlier this year.
Rcb’s huge market appeal:
Even thought dieso wants to sell its stake in the rcb, the franchise remains one of the most popular teams in the League. The Recent Victory will only enhance the team’s evr-far-far. Virat Kohli‘S presence in the team also gives it a huege market appeal, particularly across digital platforms.
The franchise is one of the eight original teams founded by the bcci before the start of the ipl in 2008. Later, DIEGO TOOK CHARGE OF TEAM AFTER TATIN OVER MALEYED SPIRITS Empire.
The report added that the British company is tempted to sell RCB Because of the franchise’s Soaring Value. Things are not going well for the company at present due to a decline in premium liquor sales in its largest market, the united states. As a result, it is looking to sell the IPL franchise in order to free up funds and focus on its main operations.
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