JSW signs a deal to acquire 50% stake in the IPL side Delhi Daredevils

After naming Gautam Gambhir as their skipper, Delhi Daredevils have made further changes to their set-up. The GMR group inked a deal with the steel giants JSW for an equal partnership in their Indian Premier League (IPL) franchise. The deal, however, is pending approval from the Indian cricket board. Currently, the steel giants own the Indian Super League franchise Bengaluru FC apart from being an constant support for a few Olympic athletes.

Now the matter would be placed in front of the IPL Governing Council on March 16. In all light, the deal is just an approval away from going through, as the BCCI has been kept in the loop by the two. What would be interesting to see is would there be any managerial changes in the franchise, and would it result in their debut IPL title. Both parties are happy with the deal at 50 a piece, and it would be cleared on the 16th of March.

Daredevils announced the deal with a statement 

“GMR Group today announced that it has entered into an agreement with JSW Sports for a 50:50 partnership in GMR Group’s Cricket franchisee “DD” owned by GMR Sports Private Limited (GSPL). GSPL is owned by the Promoters of the GMR Group,” Daredevils issued a press release.

The franchise further held the deal as symbolic to improve the immense potential for sports and cricket in particular 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,” GMR Corporate Chairman Kiran Grandhi said.

JSW have already worked their magic with Bengaluru FC, with the side from Bengaluru having won two I-League titles, with aims of winning the ISL title in their debut season. JSW supremo Parth Jindal concluded by saying that their experience and expertise would help in change of fortunes for the franchise.

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