 "RCB intimates BCCI about Vijay Mallya resignation, Russel Adams new boss")
IPL franchise Royal Challengers Bangalore has written to the Indian cricket board (BCCI), intimating them about Vijay Mallya's resignation from the post of Director of Royal Challengers Sports Private Limited (RCSPL).
According to reliable sources, top BCCI officials in IPL governing council received an e-mail on March 7 from franchise official Russell Adams, informing the board about the current ownership status in the franchise. It was five days after the troubled business tycoon left India for 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 said Thursday.
Adams, who is Vice-President (Commercial Operations and Cricket Academy at RCB), also made it clear that there will be "no change in ownership pattern" due to Mallya's resignation.
The BCCI official said that clarity on ownership was required after Mallya's resignation.
"BCCI has some strict rules and regulations in place regarding franchise ownership changing hands. The owners need to intimate BCCI beforehand whether there is 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.
Mallya, who has defaulted in loans in excess of Rs 9,000 crore, is facing probe by various investigative agencies.
The 60-year-old bought RCB in 2008 but the popular franchise has not been able to win a single Indian Premier League title in eight attempts.
According to reliable sources, top BCCI officials in IPL governing council received an e-mail on March 7 from franchise official Russell Adams, informing the board about the current ownership status in the franchise. It was five days after the troubled business tycoon left India for 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 said Thursday.
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The letter stated that Siddhartha Mallya will be present in the Board of Directors "in a limited role should the members wish to consult him".
Adams, who is Vice-President (Commercial Operations and Cricket Academy at RCB), also made it clear that there will be "no change in ownership pattern" due to Mallya's resignation.
The BCCI official said that clarity on ownership was required after Mallya's resignation.
"BCCI has some strict rules and regulations in place regarding franchise ownership changing hands. The owners need to intimate BCCI beforehand whether there is 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.
Mallya, who has defaulted in loans in excess of Rs 9,000 crore, is facing probe by various investigative agencies.
The 60-year-old bought RCB in 2008 but the popular franchise has not been able to win a single Indian Premier League title in eight attempts.