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 reported. 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.
Read more at: http://www.televisionpost.com/news/jsw-group-to-acquire-royal-challengers-bangalore-from-diageo/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/news/jsw-group-to-acquire-royal-challengers-bangalore-from-diageo/ | TelevisionPost.com
