Former Board of Control for Cricket in India President N. Srinivasan, who controls 29% of the shares of India Cements Ltd., the principal owners of the Indian Premier League side Chennai Super Kings, has "transferred his entire stake" in the IPL franchise, the India Cements Cricketers Trust -- which "takes care of the interest of former cricketers employed with the company," according to Dwaipayan Datta of the TIMES OF INDIA. Simply put, the 29% of the money earned by CSK will "go for the welfare of former cricketers (only those who are employed by India Cements)." Sources said, "Creation of the trust and transferring his (Srinivasan's) ownership rights to the trust is complete. That decision is now irreversible. CSK is not owned by Srinivasan anymore and BCCI has been informed about this change." The scheme has been "modeled on the lines of the BCCI welfare scheme," which was formulated by the current Int'l Cricket Council chairman. Another ICL source confirmed that the scheme "hasn't been made with star cricketers like Rahul Dravid or MS Dhoni, who are employed with the company, in mind." The source said, "We are not just about the stars. This scheme will benefit all those players, many of whom have been employed with us since 1974" (TIMES OF INDIA, 5/2).
