The Indian Premier League (IPL) 2024 is the 17th edition of the franchise Twenty20 cricket league in India, organized by the Board of Control for Cricket in India (BCCI). The tournament features ten teams and will be held from March 22 to May 26, 2024.
The Tata Group has renewed their contract as the title sponsor for the IPL for a tenure of 5 years i.e., from 2023 to 2028. Further, Star Sports will be the official TV broadcaster, and JioCinema will be the official digital broadcaster for the season.
The opening match of IPL 2024 will feature the Chennai Super Kings (CSK) against the Royal Challengers Bangalore. This exciting match is scheduled at the MA Chidambaram Stadium in Chennai on Friday, March 22, 2024.
Here are the details of listed companies who own IPL teams:
United Breweries Ltd
The Royal Challengers Bangalore (RCB) team is currently owned by United Spirits Limited, which is a subsidiary of Diageo Group, a global leader in the alcohol industry. Since its inception, United Spirits has been the parent company of RCB.
Earlier, the team was owned by Vijay Mallya, who purchased the franchise in 2008 for 111.6 million US dollars. However, due to financial issues, Mallya no longer owns RCB, and the team is now solely owned by United Spirits.
With a market capitalization of Rs. 45,716 crore, United Spirits Limited, formerly known as United Breweries, is an Indian alcoholic beverage company that produces a wide range of spirits, beer, and wine. The company has a significant presence in the alcohol industry and boasts an impressive portfolio of brands that sell millions of cases annually.
Reliance Industries Ltd
The Mumbai Indians(MI) team is owned by Indiawin Sports Private Limited, which is a subsidiary of Reliance Industries. Mukesh Ambani, the chairman and managing director of Reliance Industries, is the head of the company that owns Mumbai Indians and his wife, Nita Ambani is also an owner of the team.
According to reports, Mumbai Indians was bought by Mukesh Ambani’s Reliance in 2008 for the highest price among all teams. Mumbai Indians franchise was bought for a bid of Rs. 448 crores, or 111.9 million US dollars at that time.
Reliance Industries Ltd is a diversified company with business interests in energy, petrochemicals, textiles, retail, entertainment, materials, and telecommunication sectors, with a market capitalization of Rs. 19,65,433 crores. Moreover, Reliance’s JioCinema will be the official digital broadcaster for the season.
India Cements Ltd
The Chennai Super Kings (CSK) team is owned by India Cements Limited through their holding company, Chennai Super Kings Cricket Limited. The current owner of CSK is N. Srinivasan, who is an Indian businessman and industrialist, as well as the Managing Director of India Cements. N. Srinivasan has been associated with CSK since its debut in IPL.
N.Srinivasan has played a significant role in the acquisition of the Chennai Super Kings IPL franchise, who purchased the franchise in 2008 for 91 million US dollars.
With a market capitalization of Rs. 6,433 crores, India Cements is a cement manufacturing company based in Chennai, India. It is one of the leading cement manufacturers in the country and is known for its quality products. Furthermore, India Cements has also ventured into related fields like shipping, captive power and coal mining that have purposeful synergy with the core business.
RP Sanjiv Goenka Group
Lucknow Super Giants (LSG) was established in 2021 and made its debut in the 2022 IPL. The franchise was bought by the Sanjiv Goenka-led RPSG Group for a whopping Rs. 7,090 crores.
With a 7 billion US dollar asset base and 4.3 billion US dollar revenue, the RP-Sanjiv Goenka Group is one of India’s fastest-growing conglomerates with a significant global presence. The listed companies owned by RP Sanjiv Goenka Group include PCBL Ltd, CESC Ltd, Saregama India Ltd and, Firstsource Solutions Ltd.
Sun TV Network Ltd
Sun TV Network, owned by Kalanithi Maran, acquired the Sunrisers Hyderabad (SRH) IPL team in 2012 after the termination of the Deccan Chargers. The acquisition involved a bid of Rs. 85.05 crores per year for a five-year deal, making Sun TV Network the owner of the Sunrisers Hyderabad team.
With a market capitalization of Rs. 23,288 crores, Sun TV Network is engaged in producing and broadcasting satellite television and radio software programming in the regional languages of South India.
The company owns and operates 33 TV channels across languages like Tamil, Telugu, Malayalam, Kannada, Marathi, and Bengali, offering general entertainment, movies, music, kids programs, news, and classic content.
GMR Group and JSW Group
Delhi Capitals (DC) was originally called Delhi Daredevils and was bought by the GMR Group in 2008 for 84 million dollars. Furthermore, The team’s name was changed in 2018 after JSW Sports, a subsidiary of the JSW Group, bought a 50 percent stake from the owner, GMR Group, for Rs. 550 crores.
The GMR Group has several listed companies, including GMR Infrastructure Limited which has a market capitalization of Rs. 47,738 crores. On the other hand, the JSW Group has various listed companies, and the total market capitalization of all listed companies within the JSW Group is approximately 25.77 Billion dollars.
This figure is derived from the combined market capitalization of JSW Steel, Jindal Steel and Power, JSW Energy, Jindal Stainless, and Jindal Stainless.
Written By Vaibhav Patil
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