Diageo deal spells end of Vijay Mallya’s sporting interests
With the signing of the deal that terminated Vijay Mallya’s chairmanship in United Spirits earlier this week, the King of Good Times has also kissed goodbye to two of his most passionate sporting interests – cricket and F1 racing.
The $75 million (Rs 515 crore) golden handshake Mallya signed with the UK-based liquor major Diageo effectively terminated his control over Indian Premier League cricket team Royal Challengers Bangalore ( RCB) and Sahara Force India F1 rac- ing team.
The end of Mallya’s interest in the two teams, where he served as the face with all his heart, came as a surreal footnote in his statement to the media where he announced his resignation as chairman of United Spirits Ltd (USL).
CONTINUED ON P11
Vijay Mallya: Losing control