Gujarat Titans, the IPL 2022 champions, are likely to get new owners as Gautam Adani’s Adani group and Torrent Inc. are likely to buy a majority stake in the franchise from CVC Capitals. CVC Capitals bought the IPL franchise for ₹5,625 crore in 2021.
In the three years since, Gujarat Titans won the IPL in their maiden season and advanced to the final last year, losing to Chennai Super Kings at Ahmedabad. GT finished eighth in the IPL 2024 season, after losing skipper Hardik Pandya to the Mumbai Indians.
The Adani company paid ₹1,289 crore for the Ahmedabad franchise of the Women’s Premier League, indicating significant investment. Adani Sportsline has also made significant foreign investments, including a franchise in the UAE International T20 League, among others.
The transition from Gujarat Titans’ existing ownership occurs before the BCCI’s lock-in period expires in 2025, which bans new teams from selling stakes in the franchise.
Gujarat Titans are valued at anywhere between $1 billion and $1.5 billion
According to rumors, one of India’s greatest billionaires, Gautam Adani, and the Torrent Group are in talks with CVC Capitals to buy a majority stake in the IPL. CVC hopes to keep a minority position in the squad, while Adani Group and Torrent Group want to become the majority owners of the Ahmedabad-based franchise.
According to the Economic Times, the Gujarat Titans could be up for sale, with the franchise worth between $1 billion and $1.5 billion. CVC Capitals bought the IPL franchise for ₹5,625 crore in 2021.
“Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are vying aggressively to buy a majority stake in Gujarat Titans. For CVC, it’s a great opportunity to monetize its stake in the franchise. IPL franchises have been attracting a lot of investor attention since the league has established itself as an attractive asset with solid cash flows,” the Economic Times report stated.
Adani and Torrent are headquartered in Ahmedabad, while CVC Capitals is based in Luxembourg. While Torrent has yet to engage in cricket, Adani’s Gujarat Giants and its UAE club Gulf Giants are already well-known in cricket circles.
CVC has made investments in other sports such as La Liga, Spain’s top division football tournament, Premiership Rugby, Volleyball World, and the Women’s Tennis Association.
Also Read: Sunil Gavaskar Calls For Stricter Rules; Slams Bowlers For Modern Practice