Delhi Capitals Owner – JSW & GMR Net Worth (2026)

The Delhi Capitals are known for their fearless brand of cricket. After shedding the “Daredevils” tag in 2018, the franchise transformed into a consistent playoff contender. The Delhi Capitals Owner is a powerful joint venture between two Indian corporate giants: the GMR Group and the JSW Group.

In late 2025, the franchise made headlines not just for their player retentions but for a unique structural change. The owners decided to split the management responsibilities. For the 2025 and 2026 cycle, GMR Group will manage the Men’s IPL team operations, while JSW Group will oversee the Women’s WPL team. This strategic shift marks a new chapter for the team as they hunt for their maiden IPL title.

This blog covers everything you need to know about the billionaire owners, their net worth, and the new leadership group for the 2026 season.

Delhi Capitals (DC) ownership:

Feature	Details
Legal Owner	JSW GMR Cricket Private Limited
Key Owners	Parth Jindal (JSW) & Kiran Kumar Grandhi (GMR)
Operational Control (2025 26)	GMR Group (Men’s Team)
Home Ground	Arun Jaitley Stadium, New Delhi
IPL Titles	0 (Runners up in 2020)
Captain (2026)	Axar Patel
Brand Value (2025)	$59 Million

Who Owns the Delhi Capitals?

The ownership of the franchise is a 50:50 partnership.

Originally, the team was solely owned by the GMR Group, a massive infrastructure company. In 2018, they sold a 50 % stake to JSW Sports, the sports arm of the JSW Group. This partnership created a distinct legal entity known as JSW GMR Cricket Private Limited.

This collaboration was a turning point. Before 2018, the team (then Delhi Daredevils) struggled near the bottom of the table. After JSW entered with their data driven approach and aggressive scouting, the team rebranded to Delhi Capitals and reached their first ever final in 2020.

What is the Business Background Of Parth Jindal and Kiran Kumar Grandhi?

Two dynamic leaders steer the franchise.

Kiran Kumar Grandhi (GMR Group):

He is the Corporate Chairman of GMR Group. His family business is responsible for building some of the world’s best airports, including the Indira Gandhi International Airport in Delhi. He is known for his calm demeanour at the auction table. For the 2025 and 2026 seasons, he is the primary decision maker for the men’s team.

Parth Jindal (JSW Group):

He is the Managing Director of JSW Cement and JSW Paints. Passionate and vocal, Parth is often seen in the dugout cheering for every wicket. He runs JSW Sports, which supports Olympic athletes and owns teams in Kabaddi (Haryana Steelers) and Football (Bengaluru FC). Under the new rotation policy, he currently focuses on the Delhi Capitals Women’s team, which reached the WPL finals twice in a row.

JSW Group And GMR Group Partnership Explained:

The partnership is unique in the IPL ecosystem. To avoid conflict and improve efficiency, the owners recently announced a “Rotation Policy” for operational control.

How the Rotation Works:

Cycle 1 (2025 to 2026): GMR Group manages the IPL (Men) team. JSW Group manages the WPL (Women’s) team.
Cycle 2 (2027 to 2028): JSW Group will take over the IPL (Men) team. GMR Group will switch to managing the WPL (Women’s) team.

This ensures that both owners get a free hand to execute their vision without bureaucratic delays. While key commercial decisions are taken jointly by the board, the day to day cricket decisions (like hiring the coach or selecting the captain) rest with the managing partner of that cycle.

Source

Where are the Corporate Offices Of the Delhi Capitals Owners?

The franchise does not have a single headquarters due to its dual ownership. It operates from the corporate offices of both groups.

GMR Group Office:

Located in Aerocity, New Delhi, close to the airport where they operate. This office handles the logistics and operations for the current IPL cycle.

JSW Group Office:

Located at the JSW Centre in the Bandra Kurla Complex (BKC), Mumbai. This is the nerve centre for JSW Sports and the WPL team operations.

Combined Net Worth Of The JSW And GMR Owners?

The Delhi Capitals Owner group is among the wealthiest in the league.

Financial Power (Late 2025 Estimates):

Group	Key Figure	Estimated Net Worth / Valuation
JSW Group	Sajjan & Parth Jindal	~$22 Billion (Family Net Worth)
GMR Group	GM Rao & Family	Multi Billion Dollar Enterprise
DC Brand Value	Franchise Valuation	$59 Million

The combined financial muscle ensures that Delhi Capitals never lacks funds for top tier facilities, coaching staff, or player acquisitions.

Who are the Key People Running Delhi Capitals Operations?

For the 2026 season, the management structure has seen a complete overhaul under GMR’s leadership.

Men’s Team Management (Led by GMR):

Chairman: Kiran Kumar Grandhi
Head Coach: Hemang Badani. The former Indian cricketer was appointed to bring a disciplined, tactical approach to the squad.
Director of Cricket: Venugopal Rao.

Women’s Team Management (Led by JSW):

Chairman: Parth Jindal
Head Coach: Jonathan Batty.

What is the Influence Of JSW Sports on Indian Athletics?

While GMR focuses on infrastructure, JSW Sports is the backbone of Indian Olympic sports.

The Inspire Institute of Sport (IIS) in Vijayanagar, founded by Parth Jindal, trains hundreds of athletes. Olympic champion Neeraj Chopra is one of the many athletes supported by JSW. This sporting culture bleeds into the Delhi Capitals. The franchise emphasises fitness and high performance more than just celebrity status.

What is the Vision Of Parth Jindal For the Delhi Capitals?

Parth Jindal has been vocal about his vision: “To make Delhi the sports capital of India.”

His philosophy is to build a core of young Indian players. Under his initial guidance, the team groomed talents like Rishabh Pant, Shreyas Iyer, and Prithvi Shaw. Even though he is currently managing the Women’s team, his long term goal remains to win the IPL trophy with a squad that is homegrown and loyal to the franchise.

Who is the Current Captain And Emerging Talent In DC?

The 2026 auction and retention window brought massive surprises. The management made a bold call to release Rishabh Pant, the long time face of the franchise.

Leadership for IPL 2026:

Captain: Axar Patel. The “Bapu” of Indian cricket was promoted to captaincy. His loyalty and tactical brain made him the perfect choice for the GMR led management.
Vice Captain / Key Leader: KL Rahul. The franchise retained the experienced opener to provide stability at the top.

DC Squad Core (IPL 2026):

Role	Player Name	Status
Captain	Axar Patel	Retained
Opener	KL Rahul	Retained
Spinner	Kuldeep Yadav	Retained
Finisher	Tristan Stubbs	Retained
Pacer	Mitchell Starc	Retained
Wicketkeeper	Abishek Porel	Retained

What is the Brand Value And Revenue Growth Of Delhi Capitals?

2025 was a challenging year for the IPL economy. According to Brand Finance reports from December 2025, the brand value of the Delhi Capitals saw a correction.

Valuation Stats:

Current Value: $59 Million (Down 26 %).
Rank: 8th most valuable IPL brand.

Reasons for Dip:

Performance: Missing the playoffs in 2025 hurt fan engagement.
Star Exit: The uncertainty around Rishabh Pant’s exit created a temporary dip in social media sentiment.
Market Trends: The overall league valuation saw a 20 % correction due to global economic factors.

Despite the dip, the franchise remains profitable due to central revenue pool shares and loyal sponsors like Hero Fincorp and DP World.

Evolution Of The Franchise From Daredevils To Capitals:

The rebrand in 2019 was more than just a name change; it was an identity shift.

Delhi Daredevils (2008 to 2018): Known for chopping and changing squads. They often finished at the bottom.
Delhi Capitals (2019 till Present): Symbolises stability. They reached the playoffs three years in a row (2019, 2020, 2021).

The name “Capitals” reflects the status of Delhi as the heart of the nation. The logo features three tigers, representing the hunger and aggression of the new leadership.

What are the Future Goals For the Delhi Capitals Under Joint Ownership?

The Delhi Capitals Owner group has global ambitions. They are expanding the “Capitals” universe beyond India.

Global Footprint:

Pretoria Capitals: A team in the SA20 league (South Africa), managed by JSW.
Dubai Capitals: A team in the ILT20 league (UAE), managed by GMR.
Hampshire County Cricket Club: In a historic move in 2024, GMR Group agreed to acquire this English county club, making them the first IPL owners to buy a lush English county team.

This multi club model ensures that the Capitals brand is visible 365 days a year, not just during the IPL.

Conclusion:

The Delhi Capitals are in safe hands. The unique partnership between the GMR Group and JSW Group provides the best of both worlds: corporate stability and sporting passion. While the 2025 season had its hurdles, the appointment of Axar Patel as captain and the clear division of roles for 2026 signal a fresh start. With a new head coach and a retained core of match winners, the Delhi Capitals Owner group is fully committed to bringing the IPL trophy to the Qila (Fort) in Delhi.

FAQs:

Who is the owner of the Delhi Capitals in 2026?

The team is co owned by the GMR Group and JSW Group. However, for the 2026 season, the GMR Group (led by Kiran Kumar Grandhi) is solely responsible for managing the operational decisions of the Men’s team.

Is Rishabh Pant still with the Delhi Capitals?

No, Rishabh Pant is not with the Delhi Capitals for the 2026 season. The management released him ahead of the auction, marking the end of his long association with the franchise.

Who is the captain of the Delhi Capitals for IPL 2026?

Axar Patel has been appointed as the captain of Delhi Capitals for the IPL 2026 season. KL Rahul is also part of the leadership group as a senior retained player.

What is the rotation policy of the Delhi Capitals owners?

The owners have a 2 year rotation policy. For 2025 and 2026, GMR manages the Men’s team, and JSW manages the Women’s team. In 2027, they will swap roles.

Does the Delhi Capitals owner own other teams?

Yes, the owners have a global presence. JSW Sports owns the Pretoria Capitals (SA20) and Haryana Steelers (PKL). GMR Sports owns the Dubai Capitals (ILT20) and has agreed to acquire Hampshire County Cricket Club in England.