The Indian Premier League's overall brand value declined by 20 per cent to $9.6 billion in 2025 due to lost momentum in the league caused by tensions between India and Pakistan, and teams adjusting to their squad composition post the auction.
The companies have postponed their open offer, too.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
Bankers and the senior management are expected to convene another meeting later this month.
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
RBI, Enforcement Directorate to see if money was sent to tax haven
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
Soon after acquiring strategic management control of Vijay Mallya's crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market.
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