MS Dhoni’s long association with Chennai Super Kings has once again made headlines, this time over reports that the former India captain wanted to buy a stake in the IPL franchise.
However, a senior CSK official has denied that Dhoni ever approached the management regarding such a deal.
According to a report by Cricbuzz, there was no discussion between Dhoni and the CSK management about buying a stake in the franchise. The report, however, also revealed that Dhoni already owns more than one lakh shares in CSK.
CSK official denies stake-buying talks
Reports had claimed that Dhoni was interested in purchasing a stake in CSK but that the franchise did not agree to the terms proposed by its former captain.
A senior CSK official has now rejected those claims and said there was never any such conversation 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.
This makes it clear that Dhoni did not make a formal request to the franchise for a stake, despite the reports suggesting otherwise.
Dhoni already owns CSK shares
While the former CSK captain did not ask to buy a stake, he does have a financial connection with the franchise. According to information cited by Cricbuzz, Dhoni owns more than one lakh CSK shares.
CSK is an unlisted company, which means its shares are not bought and sold on the open market like shares of listed companies. However, they can be transferred through private off-market transactions.
Dhoni’s holding is still a small part of the overall shareholding. More than 30 crore shares are held by the public, which accounts for close to 40 per cent of CSK’s total share capital. The Srinivasan family, meanwhile, holds a controlling stake of more than 55 per cent.
Based on the current valuation of IPL franchises, Dhoni’s shares could be worth around Rs 2.6-3 crore, according to the report.
Dhoni’s role in CSK remains important
Dhoni continues to remain an important figure within the CSK setup even after stepping down as captain. He did not play a single match for the franchise in the previous season, but his influence around the team remains significant.
One of the key decisions ahead is the appointment of CSK’s next head coach. The franchise is yet to officially announce its choice, while Dhoni is expected to have an important role in the decision.
Report suggested that Dhoni was expected to return from the US around September 22. The CSK management is then likely to meet and discuss the coaching position along with transfers and trades ahead of the next IPL season.
For now, the franchise has denied reports of Dhoni seeking a stake, while his existing shareholding continues to remain a part of his long-standing connection with CSK.