Srinivasan and Chennai Super Kings

Chennai-Super-Kings-CSK-iplThere has been much controversy over N Srinivasan’s company, India Cements, owning a stake in the Chennai Super Kings at the same time as he has been the BCCI (Board of Control of Cricket in India) president. At the end of January, after being informed by the courts that he could either have a stake in owning the Chennai Super Kings, or he could stand for election to be the BCCI president, Srinivasan decided that he would prefer to run for his former position at the BCCI.

There had been a number of reports that Varun Manian, a film producer and realty developer, had plans to buy the Chennai Super Kings. It is unclear where this rumor began, and Manian has vehemently denied that this rumor is true. Manian wrote a response to the rumors on his Twitter account, the micro-blogging site that only allows for a short, and in this case, very clear, response.

Manian’s tweet read as follows: “Just Engaged. No plans to buy any team. LEAVE ME ALONE…”

Last week Manian announced his engagement to Trisha Krishna, the popular Tamil actress. His fiancé was also very clear that they have no plans to buy the team. Earlier in January, Manian had tweeted his support for Srinivasan to return to the position of BCCI president.

The need for change has come after the Supreme Court ruled that the controversial clause number 6.2.4 will no longer be effective. The clause allowed BCCI officials to have commercial interests in IPL teams. Along with this change, there is a panel of former judges that has been set up in order to recommend changes to the BCCI constitution, and to decide what will happen to the Chennai Super Kings and the Rajasthan Royals.

The court said: “BCCI must ensure institutional integrity in the conduct of game considering the expectations of millions of viewers. Rule 6.2.4 violates principles of natural justice.”