UltraTech-India Cements Deal: Future of Dhoni, Srinivasan, and CSK
CHENNAI, July 28, 2024: The acquisition of India Cements Ltd (ICL) by UltraTech Cement has stirred curiosity among cricket enthusiasts regarding the future of the Chennai Super Kings (CSK) and its key figures, including MS Dhoni and N Srinivasan. However, it has been clarified that the deal will not affect CSK’s ownership or operations.
Key Points:
CSK Ownership Unchanged
Separate Entity:
The Chennai Super Kings franchise is owned by Chennai Super Kings Cricket Limited (CSKCL), an independent company separate from India Cements. This separation occurred around 2015, ensuring that the recent corporate deal between India Cements and UltraTech Cement will not impact the franchise.Control and Stake:
The majority and controlling stake in CSKCL remains with the family of N Srinivasan, including his wife Chitra Srinivasan and daughter Rupa Gurunath. Despite Srinivasan selling his shares in India Cements, he retains significant influence over CSK.
MS Dhoni’s Future with CSK
Retention Rules Key:
MS Dhoni’s future as a player for CSK depends on the number of player retentions allowed in the upcoming IPL season. Discussions between Dhoni and Srinivasan suggest that if the IPL permits five or six retentions, Dhoni might continue playing. Otherwise, he could transition to a mentor role.Possible Retentions:
Besides Dhoni, the players likely to be retained include Ruturaj Gaikwad, Ravindra Jadeja, Matheesha Pathirana, and Shivam Dube. The final decision will be influenced by the Board of Control for Cricket in India (BCCI)’s upcoming meeting with IPL team owners.
Corporate Developments
Acquisition Details:
UltraTech Cement has acquired a significant stake in India Cements, purchasing shares worth Rs 3,954 crore. However, this acquisition does not grant UltraTech any control over CSK, as confirmed by an UltraTech official.Impact on Cricket:
India Cements has a long history of supporting cricket, employing numerous cricketers over the years. With the change in ownership, the company will no longer have direct involvement in cricket operations related to CSK or other cricketing activities.
Looking Ahead
The outcome of the BCCI’s meeting on July 31, where Rupa Gurunath will represent CSK, will provide more clarity on the retention rules and the future composition of the team.
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