The Indian Premier League (IPL) has been one of the most revolutionary sports franchises in the world since its inception in 2008. Combining cricket talent with business strategy and fan engagement, the IPL has transformed how cricket is played, managed, and experienced. One of its most prominent franchises is the Delhi Capitals (DC)—representing India’s capital city of New Delhi. A frequently asked question among fans, especially ahead of IPL 2025, is: who actually owns the Delhi IPL team? The answer lies in a joint ownership model between two major Indian business groups.
The Dual Ownership Structure of Delhi Capitals
Unlike many other IPL teams that might have a singular ownership entity, the Delhi Capitals are co-owned by two powerful Indian conglomerates:
1. GMR Group
The Delhi franchise was originally bought by the GMR Group, an Indian infrastructure and real estate giant, back in 2008 when the IPL was first launched. GMR acquired the franchise rights for approximately US$84 million and was the sole owner for several years.
2. JSW Group / JSW Sports
In March 2018, the JSW Group—through its sports division, JSW Sports—purchased 50% equity in the franchise from GMR. Since then, JSW Sports has been an equal co-partner in the ownership and management of the Delhi Capitals.
Together, GMR Group and JSW Sports own Delhi Capitals on a 50:50 basis, with both companies sharing investment, strategic direction, and brand stewardship of the team. This unique co-ownership has shaped much of DC’s strategy and growth in recent years.
How the Ownership Works: Roles and Responsibilities
The partnership between these two business houses isn’t just a legal ownership split—it is also reflected in how the team’s leadership and decision-making are managed:
Parth Jindal — JSW Sports
Parth Jindal, the Director of JSW Sports, is one of the most visible faces of the Delhi Capitals’ leadership. He plays a significant role in the franchise’s day-to-day running, cricketing decisions, marketing, and auction strategies. His involvement reflects JSW’s active participation in shaping the team’s future.
Kiran Kumar Grandhi — GMR Group
On the GMR side, Kiran Kumar Grandhi serves as the Corporate Chairman and co-owner. Grandhi has been a long-time board member of the GMR Group and has helped steer the Delhi franchise through many IPL seasons, including significant auction battles and player acquisitions.
Parth and Kiran often serve as co-chairmen, jointly making strategic decisions for the franchise, from selecting coaching staff and captains to defining long-term brand and performance goals.
How the Ownership Came to Be
To understand the ownership of Delhi IPL 2025, it’s important to know how this partnership evolved:
From Delhi Daredevils to Delhi Capitals
When the team debuted in 2008, it was known as the Delhi Daredevils. Under GMR ownership, the team had varied success on the field. In 2018, when JSW Sports acquired a 50% stake, the franchise underwent a significant rebranding, adopting the name Delhi Capitals to reflect broader ambitions and a renewed identity.
Since then, both GMR and JSW have worked together, bringing their business expertise and sporting vision to the franchise. It’s this shared ownership that persists in IPL 2025.
The Business Behind the Brand
The success of any IPL franchise today isn’t just measured by its on-field performance. It’s also about brand value, revenue streams, and broader commercial reach. The Delhi Capitals have steadily grown off the field, thanks in large part to the strategic backing of GMR and JSW:
Brand Value Growth
In 2025, Delhi Capitals’ brand value was reported to be approximately USD 80 million, with growth metrics showing a strong upward trend compared to previous seasons. This reflects not just fan loyalty but also savvy commercial investments by the ownership groups.
Broader Sports Investments
JSW Sports, besides co-owning Delhi Capitals, also holds stakes in multiple sports properties—ranging from ISL football club Bengaluru FC, kabaddi and hockey franchises, to international cricket teams. This diversified sports portfolio supports a stronger strategic outlook for DC.
For GMR, owning a high-profile IPL team enhances the conglomerate’s visibility in sports and entertainment, aligning with its broader infrastructure and global ambitions, including stakes in overseas cricket franchises.
What This Ownership Means for Fans
For cricket followers and especially fans of Delhi Capitals, the co-ownership structure signals stability and ambition. Having two major business houses involved means:
- Sustained investment in player acquisition and team resources.
- Professional management with experience in both business and sports operations.
- Long-term brand vision, including fan engagement, global projects, and youth development.
The combination of JSW’s sports focus and GMR’s legacy in owning the franchise provides a balanced foundation as the team looks to build toward its first IPL title—something it has yet to achieve since inception.
Future Outlook Under Current Ownership
As IPL 2025 unfolds, the Delhi Capitals, under the stewardship of GMR and JSW, have a renewed strategy both on and off the field. With experienced leadership and shrewd auction moves, the team has aimed to blend youth and experience, navigating competitive pressures to make a stronger run in the tournament.
Whether it’s player recruitment, fan engagement campaigns, or long-term team vision, the co-ownership structure remains central to how the franchise operates. And while cricketing fortunes are never guaranteed, both halves of the ownership duo are committed to elevating Delhi Capitals in the league hierarchy.
Conclusion
To directly answer the core question:
The Delhi IPL team in 2025, known as the Delhi Capitals, is jointly owned by the GMR Group and JSW Sports (a division of the JSW Group), each holding a 50% stake in the franchise.
Leadership roles are shared by Parth Jindal from JSW Sports and Kiran Kumar Grandhi from GMR Group, both serving as co-chairmen and key decision-makers for the team’s cricket and business operations.
This unique partnership continues to guide the franchise forward, aiming for sporting excellence and commercial growth, and shaping one of the most recognizable teams in the IPL landscape.
Girish