IPL 2018: RCB expecting to make decent profits this year
Something to cheer for the RCB tema management!
Updated - Apr 25, 2018 10:46 am
The Royal Challengers Bangalore is one of the most entertaining teams in the IPL. The team never fails to entertain the audience with their batting hitting some big shots. The audience always remains on the edge of their seats while RCB is batting. However, it is their bowling that has been one of the major concern for the team over the years. The bowlers let the team down when they had the best of opportunities to get their hands on the title.
The condition is no different this season. RCB sits down on the sixth position winning two out of the five games that they have played. Although they will want to turn things around quick, it will largely depend on the bowlers if they have to get there. However, despite all the on-field action, RCB has some news to cheer for. They are expected to make decent profits this year according to USL CEO.
This is the first time RCB as a subsidiary will make reasonable profits
RCB, a wholly-owned subsidiary of USL, also remains a good long-term asset despite the team’s inability to win the title since inception, as it is integral to the brand, USL chief executive Anand Kripalu told TOI. He added that nobody made serious profits or loses in the first ten years. Kripalu also mentioned that this will be the first time when RCB as a subsidiary will make reasonable profits.
“In the first 10 years, nobody has made serious money and nobody has lost serious money. Now everyone will get positive as the rules are known to all. We will be profitable this fiscal with this edition; we might have made a profit earlier, but this is the first time RCB as a subsidiary will make a reasonable profit,” Kripalu said.
Three years ago, there was speculation that the JSW Group, the steel-to-power conglomerate controlled by Sajjan Jindal, was close to buying RCB from Diageo, which owns USL, for about Rs 634 crore. The deal, however, never happened. USL’s previous promoter, Vijay Mallya had bought the RCB team for $111.6 million in 2008. Kripalu also seemed to be frustrated about the team not winning the trophy even once.
However, he is hopeful of getting there this year. “We certainly want to perform well which goes without saying, that would make this even more sustainable in the future,” he said.