IPL 8 (2015) Updates - CSK not to be sold but to be transferred!

As per the latest buzz, India Cements Ltd., the owner of the premium Chennai Super Kings IPL team is all set to transfer the ownership to its own subsidiary named Chennai Super Kings Cricket Ltd.

India Cements filed details about the transfer in Bombay Stock Exchange (BSE) where it was mentioned that the company has completed the required documentation for transfer of the Chennai Super Kings (CSK) franchise to Chennai Super Kings Cricket Ltd

India Cements Directors had already approved the proposal to demerge CSK into a wholly-owned subsidiary of the company, by transferring its net assets at cost. It had also stated that the effective date of transfer will be January 1, 2015.

It should be noted that the Supreme court had mentioned that no BCCI administrator should have conflict of interest by owning a commercial teams in IPL.

With this transfer, it shoukd be interesting to see if Indian Cements Owner Srinivasan will contest in the upcoming BCCI elections!