Chennai Super Kings May Be Bought By MRF

Indian Premier League franchise Chennai Super Kings could be bought by tyre manufacturing company MRF, according to media reports. This after Supreme Court last week ordered that N. Srinivasan - managing director of India Cements which owns CSK - must choose between the team and the BCCI. Speculation now is that the Srinivasan is planning to  transfer his shares in the CSK team with MRF and a Chennai-based builder - Varun Manian - as the potential buyers. (Also read: Srinivasan refuses to comment on Supreme Court judgment)

With the heat on BCCI officials - primarily on sidelined chief Srinivasan - to distance themselves from commercial interests in the sport, the ownership pattern of CSK has been under scrutiny. According to a report in Mumbai Mirror, Mammens of MRF and Manian - fiancee of Tamil actress Trisha - are now the frontrunners to take over the reins of the two-time IPL champions. The report however attributes it to speculations and quotes a Srinivasan aide as saying that no buyer has been approached. "That he (Srinivasan) will try to keep the BCCI post is given. We need a few days to kick start the process," the aide said. (Timeline: Complete IPL saga)

Interestingly, Manian had recently tweeted his support for Srinivasan who has been barred from contesting in BCCI polls till he ends his commercial interest in the sport. "Mark my words NS will continue as BCCI president. He's an honourable man who has done nothing wrong," he wrote on the micro-blogging site. (Supreme Court's top-10 observations in the IPL spot-fixing case)

Mark my words NS will continue as BCCI president. He's an honourable man who has done nothing wrong.

- Varun Manian (@Varunmanian) January 22, 2015

This year's IPL auctions are reportedly scheduled to take place on February 16 which gives Srinivasan some time to take a final call on the matter.

Last week, the Supreme Court had struck down the controversial 6.2.4 clause that allows BCCI officials to own IPL teams and have commercial interests. "BCCI must ensure institutional integrity in the conduct of game considering the expectations of millions of viewers. Rule 6.2.4 violates principle of natural justice," the court had said.

A three-member panel headed by former Chief Justice of India RM Lodha and other former judges of the top court - Ashok Bhan and RV Ravindran, was also formed to decide the fate of CSK, Rajasthan Royals and recommend changes in the BCCI constitution.

Srinivasan is seeking a re-election as BCCI president. The elections have to be held within six weeks from Thursday (December 22). In the wake of the IPL probe, Srinivasan was stood down last year by the top court from his position as Board chief. The BCCI has already postponed its Annual General Meeting and elections twice. As per its constitution, the AGM should have been held by September 30 last year. Srinivasan is seeking another term, this time as a candidate backed by the BCCI's East Zone units.