MUMBAI: India Cements’ sports division, including its employees, will be absorbed into Chennai Super Kings Cricket Ltd (CSKCL), the IPL franchise, according to sources.
UltraTech Cement is acquiring promoter N Srinivasan’s stake in India Cements, but the IPL team is not part of this deal. Rupa Gurunath, Srinivasan’s daughter and a whole-time director at India Cements, is expected to join the board of CSKCL. She has been actively involved in managing the team and will now lead its expansion plans.
India Cements has a rich sports history, with cricket teams in the first division of the Tamil Nadu Cricket Association (TNCA) league and a strong support staff. R Srinivasan, N Srinivasan’s cousin, is the chairman of CSKCL.
Sports Management Experience
It is unclear if N Srinivasan, who is 79 and ailing, will hold any honorary position on the board. CSKCL did not respond to queries from ET. The team is reportedly the IPL’s most valuable franchise, with a brand value of $231 million, according to a June report by investment bank Houlihan Lokey Inc. The standalone brand value of the IPL is estimated at $3.4 billion (₹28,000 crore), up 6.3% from last year.
Rupa Gurunath is also considering having a CSK team in the Women’s Premier League (WPL), whose inaugural edition was held last year. An executive said, “CSK is currently studying the financial viability and the experience of the other five IPL franchises that participated last year.”
Gurunath, like her father, is an avid golfer and is one of the top women players in Chennai. “Leaving the cement business will allow Rupa to focus more on sports management, where she excels,” said one source. “She is the only next-gen leader among Chennai’s business groups with strong experience in sports administration and owning the top IPL franchise.” Gurunath has been closely overseeing the development of the team’s high-performance center at Navalur near Chennai. In 2019, she became the first woman president of the Chennai Cricket Association.
Expansion Plans
CSKCL’s expansion plans include opening more coaching centers for schoolchildren, increasing fan engagement activities, and boosting income through sponsorship and merchandise.
Gurunath led the TNCA infrastructure committee and is credited with modernizing the MA Chidambaram stadium in Chennai by adding pavilions and facilities. India offspinner R Ashwin has rejoined the India Cements group and will play a key role in Superking Ventures, part of Chennai Super Kings. The 37-year-old cricketer was with India Cements until 2016 and played for CSK from 2008 to 2015. MS Dhoni, the former CSK captain, will continue his association with CSK in some capacity, according to sources.
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