The sale of Royal Challengers Bengaluru is picking up pace and Hombale Films are the latest to enter the race. Previously, reports stated that Adar Poonawalla, owner and chief executive officer (CEO) of Serum Institute of India, and Nikhil Kamath, co-founder of brokerage platform Zerodha, and Ranjan Pai, chairman of the Manipal Education and Medical Group (MEMG), were looking to form a consortium to bid for RCB. Now, a third party, who have had a long association with RCB, have joined the race.
Hombale Films eye stake in RCB
As per Times of India, Hombale Films is among the leading contenders to acquire a stake in defending champions RCB.
“Hombale and Diageo share a strong working relationship. They campaign for each other and are on good terms. But Diageo hasn’t indicated how much it is willing it liquidate or if it intends to liquidate at all. The decision will have to be taken by Diageo’s international board and then conveyed to the national board. It’s a long-drawn process and we don’t know what their final position will be,” a source told the publication.
It was reported that Diageo was looking to sell the IPL franchise at $2 billion (approximately INR 17,775 crore). But Poonawalla wasn’t convinced and had previously raised concerns over RCB’s evaluation. Virat Kohli could play a major role in the valuation of the franchise.
Apart from the fact that the IPL’s valuation has decreased over the last couple of years, Kohli’s potential retirement might change things. If and when he retires, RCB’s valuations will certainly drop. He has been the face and backbone of the franchise, and once he leaves, there might be an identity crisis for the team.
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