From Vanity Project to Valued Asset: Vijay Mallya Reflects on RCB Success
Vijay Mallya, the former owner of Royal Challenger Bangalore, mocks critics for dubbing his previous investment in RCB as a 'vanity project' after its recent sale for nearly USD 2 billion. Mallya previously acquired the franchise for Rs 450 crore in 2008, transforming it into a highly valuable asset.
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In a turn of events reminiscent of business acumen, Vijay Mallya, former owner of Royal Challenger Bangalore (RCB), took a jibe at those who initially criticized his investment in the cricket franchise as a superficial endeavor. This comes after the announcement of RCB's sale for close to USD 2 billion.
The sale was concluded by United Spirits Ltd (USL) in a massive all-cash transaction with entities including the Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone. Mallya purchased RCB in 2008 for Rs 450 crore, a decision many viewed skeptically at the time. Yet, the team's valuation has soared significantly over the years.
Mallya noted the deep personal connection and pride he felt as the former steward of the franchise, having also overseen the selection of cricket star Virat Kohli. Despite his legal troubles and exile in the UK due to a financial dispute, Mallya remains grateful to RCB fans, referring to the team fondly as the 'Lion of Bengaluru'.
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