Most people laughed at me, Vijay Mallya says after RCB’s blockbuster sale

Dubai: Vijay Mallya on Thursday issued a personal statement following the sale of IPL franchise Royal Challengers Bangalore (RCB), reflecting on how his original investment had once been widely criticised.

RCB has since been sold by United Spirits Ltd (USL) in an all-cash transaction valued at Rs165 billion to a consortium that includes the Aditya Birla Group, The Times Group, Bolt Ventures, and Blackstone. The total deal value is estimated to be close to $2 billion (Rs187 billion), factoring in a Rs540-crore payout tied to the Women’s Premier League and a 5 per cent commission payable to the Board of Control for Cricket in India (BCCI).

“I would like to heartily congratulate the new owners of RCB. I wish them the very best and Godspeed with the most valuable IPL franchise. When I bought the franchise in 2008 for INR 450 crores, most people laughed at me and criticised my investment as a vanity project. Behind my much touted madnesses was building the Royal Challenge brand and hence I named the franchise RCB. Immensely gratifying to see my INR 450 crore investment grow to INR 16,500 crores,” Vijay Mallya wrote.

He added, “RCB will always remain a part of my DNA with indelible memories including picking the young Virat Kohli who is now amongst the best in the World. To all RCB fans who came on board during my stewardship and beyond, a grateful thank you and please continue to support RCB the Lion of Bengaluru. Namaskara.”

Earlier, in a 2025 tweet, Mallya recalled when he picked Virat Kohli for RCB. “When I founded RCB it was my dream that the IPL trophy should come to Bengaluru. I had the privilege of picking the legendary King Kohli as a youngster and it is remarkable that he has stayed with RCB for 18 years,” he had written as a part of his then tweet. He shared the post after the franchise lifted the IPL trophy for the first time in 2025.

Mallya, who left India for the United Kingdom in March 2016, is wanted in connection with a default of around Rs90 billion linked to loans extended to the now-defunct Kingfisher Airlines by a consortium of banks. Indian authorities continue to pursue his extradition. He has previously said he is willing to repay 100 per cent of the “public money,” while alleging that his offer was not accepted by banks and the government.

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