JSW-GMR joint venture acquires 2 cricket franchises for over ₹400 crore

JSW GMR Cricket, a joint venture between the sports divisions of GMR and JSW groups, has made a significant move in the cricketing arena.

The venture has acquired the SA20 franchise Pretoria Capitals and the International League T20 (ILT20) franchise Dubai Capitals from JSW and GMR, respectively, The Economic Times reported.

JSW GMR Cricket, already holding the Delhi franchise in the Indian Premier League (IPL) and Women’s Premier League (WPL), has reportedly agreed to pay over ₹400 cr for obtaining controlling stakes in the two franchises.

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Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!