Companies

Big blow for CSK fans?

| | Updated on: Jul 14, 2015
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Will it be the end of ‘whistle podu’ (blow the whistle), the catchphrase of Chennai Super Kings, following its suspension as recommended by the Supreme Court-appointed Lodha Committee?

If it happens, the biggest losers will be thousands of die-hard CSK supporters.

“I will be heart broken if my team is not there in the IPL,” said V Preethi, a class ten student and a fan of CSK player Suresh Raina.

Sources close to N Srinivasan, Vice-Chairman and Managing Director, India Cements, said that he has nothing to comment on the order as it is not about him, nor about the company.

It is about CSK, which is a separate company. It is up to the CSK to take appropriate action based on its legal advisors.

On September 26, the board of directors of India Cements approved a proposal to spin off CSK into a wholly-owned subsidiary – CSK Cricket Ltd – by transferring its net assets at cost, effective January 1, 2015.

India Cements officials have on earlier occasions disclosed that CSK contributed revenue of around ₹166 crore in 2013-14.

The company bagged the rights to operate the CSK franchise for ten years in 2008 when it bid $91 million.

The IPL concluded its seventh season earlier this year.

CSK were IPL champions in 2010 and 2011.

Aircel, the main sponsor of CSK, said

“The verdict has just been announced and we are reviewing our position in the matter.”

Published on January 24, 2018

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