Gujarat Titans: CVC Capital Partners, the company that owns Gujarat Titans, wants to sell its controlling stake. According to a report in the Economic Times, CVC Capital is in talks with the Adani Group and Torrent Group to sell its controlling stake in Gujarat Titans. According to sources, CVC will sell the majority stake in the franchise. It will retain a small holding.
The Board of Control for Cricket in India has a lock-in period policy which expires in February 2025. This policy prevents the new team from selling the holding.
The company's headquarter is in Luxembourg
The three-year-old franchise Gujarat Titans is worth between $1 billion and $1.5 billion. CVC Capital Partners bought this franchise in 2021 for Rs 5,625 crore. CVC Capital is headquartered in Luxembourg. While Adani and Torrent Group are headquartered in Ahmedabad, Gujarat.
Quoting sources, another official said that IPL franchises are attracting a lot of attention from investors because the league has made itself very strong. That is why big businessmen want to invest in this league.
The Adani Group has already invested in cricket by acquiring teams in the Women's Premier League (WPL) and the UAE-based International League T20. In 2023, Adani bought the Ahmedabad franchise of the WPL with a top bid of Rs 1,289 crore. Torrent, on the other hand, does not have any cricket franchise.
CVC has invested in franchises of different sports around the world. It has assets worth more than 193 billion. CVC has invested in La Liga, Premiership Rugby, Volleyball World and Women's Tennis Association.
CVC had bought the franchise for Rs 5,625 crore
In 2021, BCCI had invited bids to sell the Gujarat Titans and Lucknow Supergiants franchises. Adani Group had bid Rs 5,100 crore and Torrent Group had bid Rs 4,653 crore. At the same time, Irelia Sports India, owned by CVC Capital, had placed the most expensive bid of Rs 5,625 crore for the Ahmedabad franchise. Gujarat won the IPL trophy in its first season in 2021. With this victory, the brand value of the franchise increased.
Gujarat Titans is running in loss
Last financial year, Gujarat Titans had a net profit of Rs 429 crore. The company's revenue was Rs 359 crore. While it spent Rs 789 crore. The most valuable team in IPL is Chennai Super Kings. Its brand value is currently $231 million.
