The Chennai franchise was sold to the India Cements for $91 million. It making it the 4th most expensive team in the IPL behind Mumbai, Bangalore and Hyderabad.
India Cements Limited is a cement manufacturing company in India. It was established in 1946 by S. N. N. Sankaralinga Iyer. It has 7 integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh, Rajasthan and Maharashtra.
The company is headed by former International Cricket Council chairman, N. Srinivasan. He is also the managing director of India Cements Limited. N. Srinivasan is a former Chairman of the International Cricket Council (ICC) and former President of the BCCI.