Liquor baron likely to sell RCB 0%/100% 1028

Liquor baron likely to sell RCB

Posted: 07/10/2012 10:47 AM IST

Liquor baron Vijay Mallya is reportedly looking for all possible ways to reducing the debts. As a part of the same, he is most likely to sell his IPL franchise Royal Challengers Bangalore. The sources close to Kingfisher Airlines told Wishesh network that Vijay Mallya was banking on RCB. In case, there' a good deal, he will right away sell Royal Challengers Bangalore Team. It is known that the financial crunch in Kingfisher Airlines has made Vijay Mallya hit the headlines for all wrong reason. Be it non-payment of salaries on time or the long pending dues of banks, Vijay Mallya who enjoyed limelight with his United Breweries eventually lost his goodtimes with Kingfisher Airlines, said sources.

In order to bring back the lost good times, Mallya chose to say good bye to IPL franchise. Notably, VIjay Mallya paid US$116.6 million to own Royal Challengers Bangalore. It didn't stop there, he reportedly shelled out huge amounts of money for players and the brand ambassador Katrina Kaif. The sources said Vijay Mallya wanted RCB not to take part in the previous season itself and now he presumably decided to sell it off. In case he sells it for the same amount too, he pay some long pending debts to banks. Recently there was a meeting held by banks headed by SBI wherein the banks apparently wanted to take over Kingfisher House in Mumbai. The sources said Vijay Mallya doesn't want to lose Kingfisher House and his villa in Goa.

AW Phani

If you enjoyed this Post, Sign up for Newsletter

(And get your daily news straight to your inbox)

Rate This Article

(0 votes)
Tags : Vijay Mallya  United Breweries  Kingfisher Airlines  Kingfisher House  villa in Goa  

ALso Read icon

best Viagra online