India, June 10 -- Rumours of the Royal Challengers Bengaluru (RCB) being on sale surfaced just days after the franchise claimed its maiden Indian Premier League (IPL) title after beating Punjab Kings in Ahmedabad. However, the owners, Diageo India, an Indian branch of UK-based Diageo Plc, categorically shut the rumours as they told the Bombay Stock Exchange (BSE) and BSE Surveillance Department on Tuesday that the reports were merely speculative in nature.

Earlier, a Bloomberg report indicated that the British distiller has been in discussion with potential advisers on selling part or all of the club. Diageo owns the team through its Indian unit, United Spirits Ltd., and may seek a valuation of as much as $2 billion.

However, the rumour...