A day after announcing their captain for the 2018 edition of Vivo Indian Premier League, GMR Group, owners of Delhi Daredevils announced they put ink on paper with JSW sports for an equal (50-50) partnership in their IPL franchise. The amount of the deal, however, remained confidential and the purchase is still subject to approval from the BCCI and other customary conditions proceedings. The IPL Governing Council is scheduled to meet on March 16 to seek into the matter but it only looks like a mere formality before a definitive confirmation.
After investing in football, wrestling, and kabaddi, JSW Sports now ventures in the money-laden Indian Premier League following their investment in the Delhi Daredevils. The move does not come as a surprise as Sajjan Jindal’s son Parth had previously hinted, several times, its wish of joining the IPL. The group already owns top football club Bengaluru FC and support elite Olympic athletes.
It will be interesting to see how the entry of JSW Sports will influence the managerial structure of the Daredevils even though speculations report that the current set-up will remain intact for at least this year’s IPL tournament which is set to begin in a few weeks.
“GMR Group today announced that it has entered into an agreement with JSW Sports for a 50:50 partnership in GMR Groups Cricket franchisee owned by GMR Sports Private Limited (GSPL). GSPL is owned by the Promotors of the GMR Group,” Daredevils issued on a press release.
The partnership of both groups as owners of the cricket club will open a powerful synergy going forward for both JSW and GMR. It will most probably bring an immense contribution to the development of Sports and Cricket in the region.
“After having nurtured the Franchisee for the last 10 years, we believe the time is right for us to take it to newer heights. We believe JSW as a partner will bring significant value to the franchise with their wealth of diverse experience,” said GMR Corporate Chairman, Kiran Grandhi.
“We are very happy to announce this new partnership with GMR. This is something that we as a group are excited about and the DD team will add to our existing portfolio of sports investments. We look forward to bring our experience and expertise to take the team to new heights” said JSW supremo Parth Jindal.
Delhi Daredevils is one of the first franchises of the IPL, operating since the launch of the T20 tournament 10 years ago. The franchise went through a complete makeover this year in terms of composition and coaching staff. Gautam Gambhir returned to the team after seven years and named a captain. Ricky Ponting was also appointed as new coach of the team.
Daikin is the team sponsor and Nature Fresh and Suzuki Gixxer came forward as principal sponsors so far.