Dhoni holds no stake in Rhiti Sports: Firm

New Delhi : As a controversy broke out over alleged conflict of interest of Indian skipper Mahendra Singh Dhoni, sports management firm Rhiti Sports said on Monday he holds no stake in the company.

Dhoni holds no stake in Rhiti Sports: Firm

It was reported in the media that Dhoni has a 15 per cent stake in Rhiti Sports which also manages Suresh Raina, Ravindra Jadeja and Pragyan Ojha, besides the Indian captain.

However, the firm said that Dhoni was a shareholder only for a brief period, and currently has no stake.

 “As on date, MSD holds no shareholding in Rhiti Sports Management (P) Ltd. However, it is made clear that shareholding was allotted to MSD on 22.03.2013 only to secure certain old outstandings which were due for more than one year.

“Further, the payments were cleared in April 2013 and the shareholding was transferred back to promoter of the company on 26.04.2013,” Rhiti Sports chairman Arun Pandey said in a statement.

In 2010, Dhoni signed up with Rhiti Sports reportedly for Rs 210 crore, an average of Rs 70 crore a year, the costliest deal in Indian cricket.

“We at Rhiti Sports Management Pvt Ltd are greatly aggrieved at the widespread media reports regarding alleged conflict of interest of MSD.

“Though not obligated to but in order to put at rest these widespread speculations, we are issuing the following statement to bring in knowledge the correct factual matrix.

 “It is made clear that the Management of Rhiti Sports Management (P) Ltd understands its obligations to the field of sport and the country and adheres to the laws of the land,” he added in the statement.

Interestingly, two of these players — Raina and Jadeja — are part of the same IPL franchise, the Chennai Super Kings, which is also captained by Dhoni.  Ojha had joined Rhiti Sports during Australia’s last tour of India.

 While there were no comments from Dhoni, pacer Rudra Pratap Singh, whose name was also mentioned in the report as one of the players managed by Rhiti Sports, denied having any association with the firm.

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