Bangalore Royal Challengers' [Images] owner Vijay Mallya [Images] on Wednesday scotched speculation over the fate of the team's bowling coach Venkatesh Prasad, saying he was fully supportive of the former Indian medium pacer.

A day after Charu Sharma 'stepped down' as CEO of the team and was replaced by former test batsman Brijesh Patel, Mallya issued a media statement expressing his faith and confidence in the players and the team management. Copies of Mallya's signed statement were issued in Kolkata on Wednesday.

"I would like to clarify that I continue to have faith and confidence in all my players led by Rahul Dravid [Images] and in Martin Crowe, Chief Cricketing Officer and his team," he said. 

The liquor baron claimed that he chose Patel as CEO as he was an accomplished cricketer of Karnataka and had deep understanding of local conditions.

"The addition of Patel to lead the management of Royal Challengers will strengthen the team will considerably and also have a positive influence on the selection and future development of local Karnataka cricketers who aspired to play in the IPL in future," he said.

Praising Prasad, Mallya said "I am fully supportive of Mr Venkatesh Prasad as bowling coach after he excelled himself with the Indian team recently in Australia."

Mallya said he would be travelling to Kolkata on Thursday to watch the match between his side and Kolkata Knight Riders [Images].

"I wish to confirm this is yet another expression of confidence in my team's ability to effectively compete in the IPL," Mallya said.