Vijay Mallya lets go of the Royal Challengers Bangalore  

IPL’s Royal Challengers Bangalore team principal and director of Royal Challengers Sports Private Limited  Vijay Mallya has resigned from the post officially.

The Royal Challengers Bangalore (RCB) team intimidated the BCCI and the IPL governing council in writing about he recent development. Sources say that, Russell Adams who is a franchise official, sent BCCI an email on March 7, informing them about the updation of the ownership of the cricketing franchise.

Royal Challengers Bangalore was brought by Vijay Mallya in 2008 auction and the franchise has been one of the most popular ones in the IPL, but have never won the IPL title, despite making an appearance in the finals of 2009 IPL edition.

Vijay Mallya has left the country after being pursued by the banks who have declared him defaulter on the loans he had taken from them. Currently, Mallya is residing in the United Kingdom.

“Yes, we received an e-mail communication from Russell Adams, who will now be the man in-charge of the RCB team. The e-mail stated that Dr Vijay Mallya has resigned from his post as Director of RCSPL and will only be an Honorary Chief Mentor till his son Siddhartha is in the Board of Directors,” a senior BCCI official, in the know of things told PTI today (March 17).

Russell Adams, who is a Vice-President of Commercial Operations and Cricket Academy at RCB, also stated in the mail that the ownership patterns will not change after the resignation of Vijay Mallya.

“BCCI has some strict rules and regulations in place regarding franchise ownership changing hands. The owners need to intimate BCCI beforehand whether there is a partial or complete transfer of stake. As of now they have made it clear there is no change in ownership pattern in RCSPL which is a subsidiary of United Spirits, which is controlled by Diageo,” the official said.

Vijay Mallya has defaulted loans of over Rs. 9,000 crores and is pursued by the authorities in India.