N Srinivasan is still the owner of Chennai Super Kings, in spite of India Cements’ recent takeover by UltraTech Cement. As per CSK CEO Kasi Viswanathan, the IPL franchise and India Cements are two different entities and will continue to exist independently.
While Srinivasan remains the owner of the franchise, it is now controlled by an entity called Chennai Super Kings Cricket Limited as per Cricbuzz.
Chennai Super Kings owner situation clarified
Following the news of UltraTech Cement acquiring India Cements’ promoters stake on Sunday, it was made clear the transaction will have no bearing on the IPL franchise, Chennai Super Kings.
— Sportstar (@sportstarweb) July 29, 2024
✍️ @dipakragav underlines the key points of the acquisition and its impact on #CSK ➡️… pic.twitter.com/gp73QHlczC
In spite of the takeover, UltraTech Cements is aware that they will not have any control over the IPL franchise. CSK were declared a separate entity in 2015, before which they were still under India Cements.
The franchise has won the IPL five times in their history, the joint-most of any other team alongside arch rivals Mumbai Indians.
After failing to win the title this time around, it remains to be seen how the team fights back when the new season begins.
Will India Cements still exist?
Yes, they will continue to be listed.
