Adani and Torrent in race to acquire Gujarat Titans from CVC
CVC Capital Partners are reportedly planning to divest a majority stake in the IPL franchise Gujarat Titans, valued at 1 and 1.5 billion US dollars. As per the Economic Times, CVC is in talks with Adani Group and Torrent Group, to which it might sell a majority stake in the franchise.
The company acquired the majority stake of Gujarat Titans in 2021 for a whopping INR 5625 crore, one year before the side made its first appearance in the IPL. Along with the ownership came a four-year lock-in period, which is set to expire soon.
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The BCCI has made it so that the owners are not allowed to sell the majority stake before the lock-in period. Furthermore, the lock-in is set to expire in February 2025, and CVC Capital Partners is looking to exit the franchise’s ownership. It is also worth noting that both Adani Group and Torrent Group initially showed interest in the franchise, bidding INR 5,100 crore and INR 4,653 crore, respectively.
Gujarat Titans hope to continue a successful stint in IPL 2025
Speaking of Gujarat Titans, the side has been incredibly successful in the Indian Premier League. Having debuted in 2022, the Hardik Pandya-led Titans topped the table and won the title in their first attempt. The following year, they continued that brilliant run by reaching the summit clash of the tournament after topping the group-stage table again. However, they failed to win the title, losing the clash to MS Dhoni’s Chennai Super Kings in the final.
For the IPL 2024, Gujarat was under the leadership of Shubman Gill after Pandya was traded to Mumbai Indians. The side had a forgettable season, finishing in the eighth place. However, they will hope for an improved showing in the IPL 2025.
