India, Mar 26 : Fugitive businessman Vijay Mallya on Thursday reacted to the recent sale of Royal Challengers Bangalore, describing the franchise’s soaring valuation as a validation of his early investment decision.
In a statement shared on social media, Mallya said his purchase of the team in 2008 for ₹450 crore was widely criticised at the time, with many dismissing it as a vanity venture. He noted that the franchise’s current valuation, following the latest deal, reflects the long-term vision behind the investment.
The team has been acquired by a consortium of major corporate groups in an all cash transaction valued at over ₹16,000 crore, marking a significant jump in worth. Factoring in additional payouts and commitments, the overall deal size is estimated to be close to $2 billion.
Calling the growth “immensely gratifying,” Mallya also reflected on key moments during his tenure, including the early selection of Virat Kohli, who went on to become one of the leading figures in international cricket. He said the franchise remains deeply personal to him and highlighted its role in building a strong brand identity.
Extending his wishes to the new owners, Mallya expressed confidence in their ability to take the franchise forward and thanked fans for their continued support over the years.
Mallya, who has been based in the United Kingdom since 2016, is currently facing legal proceedings in India related to loan defaults involving a defunct airline. Authorities have been pursuing his extradition in connection with the case.