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- Published: July 29, 2024 12:32
New Delhi: CSK and its players are going through another dark episode as the franchise ownership sees an overnight transformation. According to a recent report, the owner of India Cements-N Srinivasan has reportedly sold his stake in the company to another corporate giant UltraTech Cement.
Initially, there was a shock in the entire cricketing world as everyone thought that it was the finish line for the Chennai-based franchise, Srinivasan came out in the open to reveal that even if he doesn’t have stakes in the India Cement, his stakes in CSK are still with him.
It’s all about Aura and Craze!😏pic.twitter.com/BdGrfeFc2V
— Hustler (@HustlerCSK) July 29, 2024
This confusion of ownership was raging even more cause earlier India Cements had the main say in the franchise with 33.72% of the stakes under the company’s name which will be transferred to Aditya Birla Group. However, Kasi Vishwanathan cleared this dilemma in the media by stating that CSK has become an independent company named Chennai Super Kings Cricket Ltd (CSKCL). Vishwanath was quoted by Cricbuzz, “Chennai Super Kings and India Cements are different entities…”
I love CSK but @ChennaiIPL could never convince him into doing something like this in front of camera 😒 pic.twitter.com/M86NhQBJ4K
— MaahiVe (@MaahiVe7781) July 25, 2024
Why is India Cement relinquishing its legacy?
This shock sale of family shares to Ultratech by Srinivasan remains unclear and continues to hover in darkness. The final sum locked in between both sides is Rs 3954 crores for the remainder of the shares. Earlier, in June, Ultratech had acquired 22.7% of the shares for Rs 1889 crores.
How Perfect Was CSK 2021 Squad 💛
Best Opening Duo of That Season , Both The Spinners of That XI Used To Bat in Top 7 , Batting Depth in Pre-Impact Player Era , Strong Bench Strength , Experienced Players Stepping Up in Big Games ……. Mega Auction 2022 Ruined It All pic.twitter.com/vi4Yp5HuFN
— Junaid Khan (@JunaidKhanation) July 28, 2024
Now, a full transfer of ownership is expected to be completed in the next few days. However, Srinivas’s holdings in 18 clubs under the CSKCL will continue under Srinivas’s name.
DHONI’s Future and Retentions ahead of Mega-Auctions!
While the backdoor ownership issues steer towards a conclusion, another pressing issue that continues to grip CSK is the future of Mahendra Singh Dhoni. Dhoni who has been the torchbearer of the franchise since 2008 might find himself falling out of favour if retention rules limit the number of players to be retained. However, a decision on the same is yet to come from the higher management. Below is the list of the players that CSK might retain
Probable players to be retained: Ruturaj Gaikwad (c), Ravindra Jadeja, Matheesha Pathirana, and Shivam Dube