Karnataka Deputy CM DK Shivakumar on Wednesday shut down rumours about him buying the Royal Challengers Bengaluru (RCB) franchise in epic fashion. His statement came a day after RCB owners, Diageo India — the Indian arm of UK-based Diageo Plc — responded to speculation that part or all of the IPL franchise was up for sale

"I am not a mad man. I'm just a member of the Karnataka Cricket Association from my younger days, that's all. I don't have time, though I had offers to be part of the management... Why do I need RCB? I don't even drink Royal Challenge," Shivakumar told news agency ANI. 

Earlier this week, a Bloomberg report said that the British distiller was in discussion with potential advisers on selling the club. Diageo owns the team through its Indian unit, United Spirits Ltd., and may seek a valuation of as much as $2 billion.

Following the rumours, the shares of United Spirits, registered with the Bombay Stock Exchange (BSE), gained a 3.3 per cent increase in its price, this hitting a five-month high on Tuesday morning. This forced the BSE to sent out a mail to Diageo, who then responded saying the reports were merely speculative in nature.

Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market on the mail saying, "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records."

The reports also emerged just days after RCB had found themselves in the midst of a controversy. On June 4, over 2.5 lakh fans had gathered in and around the Chinnaswamy Stadium in Bengaluru to be part of RCB's victory parade. The Rajat Patidar-led side had ended their 18-year wait for an IPL trophy on June 3 with a win against the Punjab Kings in the final in Ahmedabad. However, the celebrations turned into an ugly scene after a stampede occurred outside the stadium, where 11 people lost their lives and 56 were left injured.

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