Royals Challengers Bangalore is one of the eight original franchise founded in the inaugural season of the IPL in 2008. However, the Bangalore based franchise has not won the tournament in 13 editions.
Vijay Mallya bought the franchise in 2007 for US$116.6 million. He made up his mind to name the team with one of his two liquor brands- McDowell No. 1 and Royal Challenge. Therefore he decided to name the franchise as Royal Challengers Bangalore.
An Indian alcoholic beverage company-United Spirits is the owner of the Bangalore based franchise. United Spritis Ltd is the biggest alcoholic beverage in the world and the second largest by volume. Mahendra Kumar Sharma is currently the chairman of the company. The company made a net profit of INR 143 crore in 2018-2019. In the 2019 season, RCB almost doubled their profit which rose to INR 313 crore.
In IPL 2020, its revenue was affected due to the Covid-19 pandemic in the country. There were no home matches held therefore no revenue was generated from the fans visiting the stadium.
According to latest reports, RCB’s net worth rose to INR 595 crore.
RCSPL reported a 14 times growth in its profit at the end of March 2021. The rise in revenues was due to the increase in its share in the central rights income from BCCI for conducting and participating in cricket matches during the IPL league season.
United Spirits was the parent company but people always confused it with the name of Vijay Mallya. In February 2019, Vijay Mallya stepped down as the director of Royal Challengers Sports Private Limited.