Asha Rai/TNN
Bangalore, Nov 18: Vijay Mallya, unhappy with the performance of his expensive, non-performing sporting properties, is set to bring about definitive changes in Bangalore Royal Challengers, his Indian Premier League (IPL) cricket franchise, having already done that with Force India, his Formula 1 team.
Even as the other Twenty20 IPL franchisees are looking at private equity participation and divesting stake to individual investors - like Mumbai Indians with senior Deutsche Bank executive Anshu Jain - Mallya said there were no plans to infuse private equity into Royal Challengers.
About the Bangalore team, the UB Group chairman said: "This year they will perform. You wait and see."
Mallya intends to get one or two replacement players in Bangalore Royal Challengers, who already have a new CEO in Brijesh Patel and a new coach in South African Ray Jennings.
"Nathan Bracken has not signed his contract with us. This allows us to get an international player in his place. We have begun negotiations with a few. The process is on," he said.
The Australian paceman, who was bought for $3,25,000 (Rs 1.6-crore at current rate) at the IPL auction, did not play for the Bangalore team because of a knee injury which required surgery and put him out of the game for a few months. He was replaced by another Aussie bowler, Ashley Noffke. The window for IPL transfers opens in February 2009. "We will be prepared by then to participate in the process effectively," Mallya said.
He declined to comment on the team composition, especially on captain Rahul Dravid. Mallya's unhappiness with the performance of Bangalore Royal Challengers is public knowledge as they finished second from the bottom of the table in season one.
Dravid has the status of an 'icon'player and despite the bad run in the inaugural year, has expressed his wish to complete the three-year contract he has with the team.
Mallya paid a humongous $111.6 million - the second highest after Mukesh Ambani for Mumbai Indians. It was reported on Monday that Deutsche Bank's top executive in India bought 15 per cent in Mumbai Indians on Sunday for love of the game.