ibnlive » Business

Jun 03, 2013 at 06:22pm IST

MS Dhoni is not a shareholder of the company, clarifies Rhiti Sports

New Delhi: After a report in the Economic Times that said Team India captain MS Dhoni owns a 5 per cent stake in a sports marketing firm - Rhiti Sports - that manages him and four other current cricketers, the firm issued a statement on Monday in which it denied Dhoni is a shareholder of the company.

Rhiti said Dhoni has no shares as on April 26. It said it did transfer 1.5 lakh shares on March 22, but that was only to secure an outstanding amount it owed to the cricketer. Papers with CNN-IBN confirm the share allotment was done on March 22.

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It further said it cleared the payment in April 2013 following which the shares were transferred back to the company.

If Dhoni does hold a stake in the company, it puts him in a conflicting position during team selection meetings, where he is expected to share opinions on performances and strategy.

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Another conflict of interest rising on his captaincy of the IPL team Chennai Super Kings is that Rhiti Sports markets CSK, which is why perhaps Dhoni has remained silent on the alleged spot-fixing and betting charges against arrested team principal Meiyappan.