Chennai: India Cements Limited, owner of Chennai Super Kings, is likely to approach the BCCI early this week for permission to sell the IPL team.It is learnt that at a strategy meeting with his legal advisers held by the beleaguered ICC chairman, N. Srinivasan, it was decided to pursue the option of putting the team on the market so that Srinivasan could become eligible again to be president of the Indian cricket control board.
The BCCI’s permission is necessary for the sale of any IPL team and in this case such an authorisation is certain to be a formality. It is learnt that the sale process could go through quickly as the owner may have already identified a potential buyer. The company had only a couple of months ago hived off Chennai super Kings as a separate division within the company, which move could potentially make its sale to a buyer easier as various formalities, including with the company law board, have to be completed for the sale to be formalised.
And Srinivasan has less than six weeks to make himself eligible for the election by selling his company’s commercial interest in CSK. Those on the inside track are saying that Srinivasan has decided to stand for election as president at the BCCI annual meeting to be held in six weeks on the directions of the Supreme Court.
The cricket strongman will not countenance anyone else occupying the chair at this juncture when ambitions have been stoked in many contenders, including former BCCI presidents in the wake of the strictures of the top court and the troubles Srinivasan is facing after the court passed orders last week.
