Chennai, July 31: UltraTech Cement’s recent acquisition of the promoter’s stake in India Cements will not disrupt the operations of the Chennai Super Kings (CSK), according to company officials. The announcement, made on Sunday, clarifies that the IPL franchise, which has been under the management of Chennai Super Kings Cricket Limited (CSKCL) since 2015, will remain unaffected by the transaction.
Former BCCI president N. Srinivasan, Vice-Chairman and Managing Director of India Cements, and his family retain a significant 28.14% stake in CSKCL, according to the company’s 2023 annual report. This stake ensures their continued involvement with the team, which has won five IPL championships to date.
The acquisition by UltraTech Cement, which involves purchasing India Cements’ promoter stake, is expected to have no bearing on the cricketing activities or management of CSK. “The sporting activities of India Cements will continue as usual, including our support for various cricket clubs in the TNCA league,” a company source confirmed. The source also noted that former cricketers employed by India Cements have been integrated into CSKCL and will not be affected by the acquisition.
With the IPL Mega Auction approaching later this year, there is growing speculation about whether MS Dhoni, who remains a prominent figure within India Cements as one of its vice presidents, will continue his tenure with CSK. As the anticipation builds, fans and stakeholders alike will be watching closely to see if Dhoni will extend his illustrious career with the team.