The letter which conman Sukesh Chandrashekhar wrote to Diageo presented his desire to buy the IPL team Royal Challengers Bengaluru (RCB) from its current owners. Chandrashekhar announced his intention to present an upgraded offer which he would deliver to RCB from the Pune businessman who had already shown interest in purchasing the franchise.

 

Chandrashekhar declared through his letter to RCB promoters and owners that his company LS Holdings intended to create a “firm and bonafide interest” for total ownership rights and operational control over the Bengaluru franchise.

 

$1 Billion All-Cash Offer for RCB

 

Chandrashekhar declared through his letter that LS Holdings intends to present a complete all-cash proposition which amounts to One billion Dollars for Royal Challengers Bengaluru. The offer according to him would encompass all rights which involve trademark agreements and player contracts and league entitlements pending the completion of regulatory permissions and due diligence process.

 

He also mentioned that he was aware of another group offering double the amount but called his own proposal realistic.

 

He wrote:

 

“It is to my knowledge that recently you have been offered Double to what I am currently offering by another Group. However, I have given you a Realistic offer."

 

Chandrashekhar further claimed that his group could complete the transaction within 48 hours and without any third-party funding. He added that he was ready to deposit the entire amount in escrow even before formal talks begin.

 

His team is equipped to handle all obligations which the IPL governing council and Board of Control for Cricket in India (BCCI) have established according to him.

 

Also Read | Adar Poonawalla Announces Plan to Bid for RCB Ownership

 

Addresses Legal Issues, Calls RCB His “Home Team”

 

Chandrashekhar used his letter to explain his current situation with ongoing legal cases. He stated that the authorities who accused him of crimes have not established any proof against him.

 

“All these charges that I am facing personally are only allegations; nothing is proved in any court of law.”

 

He claimed that LS Holdings operates without any legal issues because it holds valid registrations in different countries while conducting business activities worldwide.

 

Chandrashekhar declared his personal connection to Royal Challengers Bengaluru as his “home team” while stating that owning the franchise would make his long-time dream come true. He also added that the purchase would be a “gift” to his partner, Jacqueline.

 

He requested through an additional note that ownership of IPL franchises should be open to all individuals not only to major corporate entities and famous personalities. He demanded that people like him should receive an equal opportunity to become team owners.

 

Diageo and Royal Challengers Bengaluru have not yet given their official statement about the letter or the offer made to them.