JSW GMR, Owner Of Delhi Capitals IPL Team, In Talks To Borrow Up To $100 Million
Any deal would make JSW GMR the latest business in the lucrative field of sports to turn to private credit for funding
(Bloomberg) -- The owner of Indian Premier League cricket team Delhi Capitals is looking to borrow between $90 million and $100 million via private credit, according to people with knowledge of the matter.
JSW GMR Cricket Pvt. Ltd., which owns the club, would use the proceeds for general corporate purposes, according to the people, who declined to be identified as the matter is private. The loan would be backed by the Delhi Capitals team, including broadcasting rights and sponsorships, they said.
Any deal would make JSW GMR the latest business in the lucrative field of sports to turn to private credit for funding. Chelsea FC raised £500 million from Ares Management Corp., Bloomerg reported in September.
A spokesman for JSW Group declined to comment.
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