Rupa Gurunath, daughter of N Srinivasan likely to head Chennai Super Kings Cricket Ltd.
According to persons familiar with the matter, the India Cements sports division and its workers will be integrated into the India Premier League (IPL) franchise Chennai Super Kings Cricket Ltd. (CSKCL).
UltraTech Cement is acquiring a stake in India Cements from entrepreneur N Srinivasan. The IPL team is not part of the deal. Rupa Gurunath, Srinivasan's daughter and the full-time director of India Cements, is expected to join the board of the IPL franchise.
She has been directly involved in its management and will now spearhead expansion plans.
According to the Economic Times, an executive from CSK claimed that the franchise was investigating the financial feasibility of owning a Women's Premier League franchise. Furthermore, the CEO reportedly stated that the team was considering the experiences of the other five franchises in the WPL 2024 before making a decision.
“CSK is currently studying the financial viability… and the experience of the other five IPL franchises that took part last year,” said an executive to Economic Times.
It is unclear whether N Srinivasan, 79, will serve on the board in an honorary position. According to a survey released in June by investment bank Houlihan Lokey Inc, the CSK franchise is the most valuable brands in the IPL, with a brand worth of $231 million.
The IPL's standalone brand value has been estimated at $3.4 billion (Rs 28,000 crore), a 6.3% increase over the previous year.