By CricketCountry Staff
Bangalore: Jul 10, 2012
Vijay Mallya, the owner of the Indian Premier League (IPL) franchise Royal Challengers Bangalore (RCB) might be forced to sell his stake in his franchise in order to reduce the debt of his airlines Kingfisher, according to reports.
The debt of the Kingfisher Airlines runs upto Rs. 7, 500 crore.
RCB, one of the top IPL franchises was bought by the liquor baron for $111.6 million in 2008. The franchise finished at fifth position in the fifth position of the IPL after looking a favourite side to win the tournament.
The Bangalore franchise was also in the midst of controversy during the tournament as one of its foreign players was arrested on charges of molesting American citizen.