Chennai Super Kings Unaffected by India Cements Acquisition

Following the recent acquisition of India Cements' promoters stake by UltraTech Cement, it has been clarified that the transaction will not impact the Chennai Super Kings (CSK) franchise in the Indian Premier League (IPL).

India Cements acquired CSK when the IPL was established in 2008. However, in 2015, the team was transferred to Chennai Super Kings Cricket Limited (CSKCL), a separate company. Former CSK captain M.S. Dhoni serves as one of India Cements' vice presidents.

According to the company's 2023 annual report, former BCCI president N. Srinivasan (Vice-Chairman and Managing Director of India Cements) and his family are the promoters of CSKCL, holding a 28.14% stake. They will continue to own the five-time IPL champion.

Apart from CSK, India Cements has been actively involved in promoting cricket in Chennai through its support of various clubs in the Tamil Nadu Cricket Association (TNCA) league across divisions. The company employs numerous former first-class and international cricketers. It also operates three teams in the top-flight First Division: Vijay CC, Grand Slam CC, and UFCC (T. Nagar).

Sources indicate that most of the cricketers employed by India Cements have been transferred to CSKCL and will not be affected by the acquisition. "The sporting activity of India Cements will not be affected, and the club activities across various divisions will continue without any change. The former cricketers who are employed have already been moved to CSK and will be taken care of," said a highly placed source.

With the IPL Mega Auction approaching later this year, all eyes will be on whether Dhoni will continue to play for CSK for another season.

Tags: #ChennaiSuperKings, #IPL, #IndiaCements, #UltraTechCement, #MSDhoni