Conman Sukesh Chandrashekar bids $1 billion on RCB, writes to owner Diageo
India Today
Conman Sukesh Chandrashekar has written to Diageo, expressing interest in buying IPL franchise RCB with an all-cash $1 billion offer. He claimed the bid was realistic and said his firm could complete the deal within 48 hours.
Conman Sukesh Chandrashekhar has written to Diageo, owner of IPL franchise Royal Challengers Bengaluru, expressing interest in acquiring the Indian Premier League franchise Royal Challengers Bengaluru, claiming he can make a “better” and faster offer than Pune-based businessman Adar Poonawala.
In a letter addressed to the promoters and owners of RCB, Chandrashekhar, noted that his firm was submitting a “firm and bonafide interest” to acquire ownership and operational control of the franchise.
Chandrashekhar claimed LS Holdings intended to present a formal all-cash offer of One billion Dollars for the complete acquisition of the franchise, including associated rights, trademarks, player contracts and league entitlements, subject to regulatory approvals and due diligence.
“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,” he wrote, adding that his group could settle the transaction within 48 hours without third-party funding.
He also addressed his legal situation in the letter, saying, “All these charges that I am facing personally are only allegations; nothing is proved in any court of law.” He claimed LS Holdings had no legal issues and had registrations and operations across multiple countries.
Chandrashekhar further said he was ready to deposit the entire amount in escrow even before formal discussions, and that his team was prepared to comply with requirements of the IPL governing council and the BCCI.
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