Mumbai: In a fresh development, tainted ICC chairman N Srinivasan is now no longer the owner of Indian Premier League franchise Chennai Super Kings. According to reports, Srinivasan, who is the managing director of CSK, has transferred all his 29 per cent shares in India Cements, the principal owners of CSK to a cricketers' trust.
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Now all the 29 per cent of the revenue generated by CSK will go to the India Cements Cricketers' Trust. "My background and history is of supporting cricket," Srinivasan was quoted as saying in a national daily.
"Creation of the Trust and transferring his (Srinivasan's) ownership rights to the trust is complete, the decision is now irreversible. CSK is not owned by Srinivasan anymore and BCCI has been informed about the changes," a source said.
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In January this year, the Supreme Court barred Srinivasan from participating in the BCCI elections for conflict of interest. The apex court said he was ineligible because he vested "commercial interest" in the sport since he owned an IPL team.
Given the continuous battle Srinivasan has been fighting with Indian cricket governing body’s President Jagmohan Dalmiya and Secretary Anurag Thakur, Srinivasan may not continue in this position for long.
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CSK owners had triggered a fresh controversy recently when they valued their team at Rs 5 lakh only. The Indian cricket board has sought legal opinion on the "low" valuation.
The CSK franchise has been under the scanner since 2013 IPL match-fixing scandal broke. Charges were framed against Gurunath Meiyappan, a team owner and son-in-law of Srinivasan by the top court for betting and sharing team information.
