IPL finance soars as fugitive RCB tycoon defends ₹17k sale record against critics' mockery.
Vijay Mallya defended his Royal Challengers Bengaluru investment on Thursday, stating that the "vanity project" label proved wrong after value surged following a historic Rs 60 crore (approx $825 million) deal ahead of IPL 2026. The fugitive businessman recalled how most people laughed at him when he initially bought RCB in late January but noted his team is now worth over three times that amount, with the franchise valued around ₹17 billion ($349m). Mallya emphasized to critics who mocked this financial dominance as a vanity project and highlighted IPL's entry into new stratospheres of value.
Key Points
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1The Aditya Birla Group has completed the acquisition of RCB in a landmark deal valued at approximately USD $2 billion or Rs. ₹16,700 crore.
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2"Vanity project" critics have been proven wrong as Mallya's original investment is now worth significantly more than he paid for it 8 years ago (Rs.₹450 crores).
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3Mallaya has publicly congratulated the new owners and dismissed those who mocked his initial purchase of RCB in March, stating they laughed at him.
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4"Godspeed" is Mallya's wish to both himself for past investment success as well as future IPL franchise ownership.
Developments
In March 2026, an Aditya Birla Group-led consortium completed a $1.78 billion buyout of Royal Challengers Bengaluru (RCB), making it the most expensive IPL franchise in history while also acquiring its Women's Premier League team under Chairman Aryaman Vikram Birla. Franchise founder Vijay Mallya expressed immense gratification regarding his original 2008 investment, which grew nearly 37 times over an eighteen-year period despite initial public skepticism calling it a vanity project.
Fugitive businessman Vijay Mallya congratulated new owners on selling his Royal Challengers Bangalore franchise for approximately Rs 18,776 crore (USD 2 billion). He defended past critics by noting that while they laughed at buying the team in 2008 for just Rs 450 crore as a vanity project, he successfully grew it to its current value.