Conman Sukesh Chandrashekhar has expressed his interest in purchasing the IPL team Royal Challengers Bengaluru (RCB). In a letter to Diageo, he stated that he plans to present a revised offer for the team, representing a Pune businessman interested in acquiring the franchise.
Through his letter to the owners, Chandrashekhar indicated that his company, LS Holdings, aims to secure full ownership and operational control of the Bengaluru franchise.
$1 Billion All-Cash Offer for RCB
Chandrashekhar announced that LS Holdings intends to submit an all-cash offer of $1 billion for Royal Challengers Bengaluru. He noted that this offer would cover all rights, including trademark agreements, player contracts, and league entitlements, pending necessary regulatory approvals and due diligence.
He acknowledged that another group has made a higher offer but described his own proposal as realistic.
He wrote:
“It is to my knowledge that recently you have been offered double to what I am currently offering by another group. However, I have given you a realistic offer.”
Chandrashekhar asserted that his team could finalize the transaction within 48 hours without external funding. He also stated he would be willing to place the total amount in escrow before formal discussions begin.
He claimed that his group can meet all obligations set by the IPL governing council and the Board of Control for Cricket in India (BCCI).
Addresses Legal Issues, Calls RCB His “Home Team”
In his letter, Chandrashekhar addressed his ongoing legal challenges, asserting that the authorities have not proven any of the allegations against him.
“All these charges that I am facing personally are only allegations; nothing is proved in any court of law.”
He stated that LS Holdings operates lawfully with valid registrations while conducting business globally.
Chandrashekhar conveyed a personal attachment to Royal Challengers Bengaluru, referring to it as his “home team” and expressing that owning the franchise would fulfill a long-held dream. He also mentioned that the purchase would serve as a “gift” for his partner, Jacqueline.
In his additional note, he urged that ownership of IPL franchises should be accessible to individuals rather than just large corporations and famous personalities, advocating for equal opportunities for aspiring team owners.
As of now, Diageo and Royal Challengers Bengaluru have not issued any official response regarding the letter or the proposed offer.
