Did Mahendra Singh Dhoni want to buy a stake in the Chennai Super Kings franchise? Reports have suggested so, with one particular report stating that the former India captain “had expressed an interest in buying a stake in CSK, but the management did not agree to the terms proposed by their former captain.”
A top CSK official has denied discussing the issue with Dhoni. “MS has never asked us about it. We never discussed the matter. We also don’t have any information about him having discussed this with Mr N Srinivasan either,” said the senior CSK functionary.
That said, Dhoni is not without shares in the franchise. Information from Chennai suggests that the former captain acquired some shares when they were available for purchase. Although CSK shares are not traded in the open market, as the company is unlisted, they can be acquired privately through off-market transactions.
According to information available, Dhoni holds more than one lakh shares, but that is a very small part in the larger scheme of the shareholding pattern. More than 30 crore outstanding shares are held by the public, accounting for close to 40 per cent of the franchise’s total share capital. Dhoni’s one lakh-plus shares, therefore, represent only a fraction of the public shareholding. For the record, the Srinivasan family holds a controlling stake of more than 55 per cent in the franchise.
Based on the current market valuation of an IPL franchise (an IPL team was last sold for over Rs 16,600 crore), his stake could be worth Rs 2.6-3 crore — again a relatively modest sum compared with his earnings over a 21-year playing career, across international cricket and the IPL, as well as his commercial endorsements. Dhoni is considered to be one of the richest cricketers in the world, with an estimated net worth of around Rs 1,200 crore.
Dhoni to decide on next coach
Dhoni, meanwhile, continues to be an influential part of CSK, despite giving up the captaincy and not featuring in a single game last season. The CSK management is waiting for him to decide on the next course of action, particularly in the matters of finalising the new head coach. He is currently believed to be in the US and is expected to return around September 22.
The CSK management is expected to meet around that time to decide on the next coach and subsequently discuss transfers and trades. CSK officials continue to maintain that they are yet to identify a coach, but sources say they have zeroed in on an overseas candidate who is also believed to be in talks with another franchise. The cloud is expected to clear once Dhoni returns and sits with the top CSK management officials.
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