Summary of this article
Vijay Mallya took a sly dig at naysayers, who termed his RCB deal as "an investment in vanity project" back in 2008
He also wished the franchise luck for the future, while thanking fans for their overwhelming support for the franchise
RCB was sold a whopping USD 2 billion (INR 18,776 crore) to a consortium consisting of multiple business entities
Ex-owner of Royal Challengers Bengaluru, Vijay Mallya, hits back at naysayers who termed his purchase as "an investment as a vanity project" after the franchise was sold for almost USD 2 billion (INR 18,776 crore) to a consortium consisting of Aditya Birla Group, Blackstone, Bolt Ventures, and The Times Group.
Mallya posted a congratulatory tweet on social platform X, saying, "I wish them the very best and Godspeed with the most valuable IPL franchise."
United Spirits Limited (USL) has officially announced an all-cash deal with the consortium worth INR 16,660 crore; however, according to a PTI report, the sale closed at a record-breaking USD 2 billion (18,776 crore), which also includes a 540-crore pay out for the Women's Premier League team and a 5% commission to the BCCI by the consortium of buyers.
Mallya pointed out to the mind-boggling sale figures to give rationale behind his investment back in 2008, "When I bought the franchise in 2008 for Rs 450 crore, most people laughed at me and criticised my investment as a vanity project." He further said, "Behind my much touted madnesses was building the Royal Challenge brand and hence I named the franchise RCB." He noted that it was "immensely gratifying to see my Rs 450 crore investment grow to Rs 16,500 crore (Rs 16,660 crore)." Mallya said RCB will always remain a part of his DNA with "indelible memories including picking the young Virat Kohli who is now amongst the best in the World".
In his post, Mallya also expresses hi gratitude to all RCB fans who came on board during his "stewardship and beyond" and urged them , "to support RCB the Lion of Bengaluru. Namaskara".
Vijay Mallya is a fugitive Indian businessman who fled to the UK in March 2016. He is wanted in India over a loan default of INR 9,000 crore, loaned by several banks to his erstwhile company, Kingfisher Airlines.
Over the years, India have been trying hard to extradite him from the UK. In the past, Mallya has accused the banks and government of refusing his offer to pay back 100% of public money.
