IPL 2018: GMR Sells Half of their Share in Delhi Daredevils to JSW Sports

GMR Group has inked a partnership deal with the Jindal South West (JSW) Sports for equal ownership of Delhi Daredevils in Indian Premier League.

Meanwhile, as per Cricbuzz, GMR was trying to sell some of their stake in the franchise for a couple of IPL seasons now.

However, both the companies now wait for an approval from the IPL Governing Council.

Meanwhile, JSW Sports already owns the Bengaluru Football Club (BFC), one of the best football clubs in the country.

It is right time for us to take it to new heights:

GMR Corporate Chairman, Grandhi Kiran Kumar admitted the deal opens up many possibilities going forward. Further, he hopes that JSW will add more value both with their wealth and experience.

“This relationship between GMR and JSW opens up powerful synergy going forward for both the groups. It is symbolic of immense potential for sports and cricket in particular in the region. After having nurtured the franchise 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,” Kumar said.

Meanwhile, JSW Sports Director, Parth Jindal was happy to sign the deal. Also, they will look to take the team to new heights.

“We are very happy to announce this new partnership with GMR. This is something that we as a group are excited about and the DD team will add to our existing portfolio of sports investments. We look forward to bring our experience and expertise to take the team to new heights,” Jindal said.

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