JSW to acquire 50% stake in GMR-owned Delhi Daredevils

MUMBAI: After owning teams in football, Kabaddi and hockey leagues, Sajjan Jindal-owned diversified business conglomerate, JSW Group, is set to have a sizeable stake in the Indian Premier League (IPL) as well.

JSW Sports, the sports arm of the steel to software conglomerate, is acquiring 50% stake in GMR Group-owned Delhi franchise of IPL, Delhi Daredevils.

Mustafa Ghouse, CEO, JSW Sports, told ET that both the companies have submitted the proposal to the Board of Control for Cricket in India (BCCI) for its approval.


“We see this as a great opportunity. We have expertise in running teams and they have been running the franchise for 10 years. Together, we can improve,” Ghouse said.

Hemant Dua, CEO, GMR Sports added that the final decision will be taken by the IPL Governing Council during its meeting on March 16.

GMR had bought the Delhi franchise in 2008 for $84 million.

JSW Group had entered into the sports business with the launch of JSW Sports launched in November 2012. The company roped in former Indian tennis player Ghouse as CEO and less than five years, it made a name in football with Bengaluru FC, bought the Haryana franchise of Pro Kabaddi League and a team in Hockey India League.