Ahmedabad: Gautam Adani in IPL? The Mumbai Indians franchise has been owned by Reliance Industries since the inception of the Indian Premier League. If all goes according to plan, Adani Group chief Gautam Adani will own the Gujarat Titans franchise. The franchise is currently owned by CVC Capital, a private equity firm. According to sources, the Adani group is in talks with the private equity firm's partners to buy a controlling stake in the Gujarat Titans franchise. Torrent groups are also discussing. According to a report in the Economic Times, CVC Capital is also willing to sell a majority stake in the IPL franchise. However, they want to retain a small number of shares.
BCCI is currently in a lock-in period. This will remain the case till February 2025. That is, shares of any IPL team cannot be sold till February 2025. CVC Capital bought the Gujarat Titans franchise in 2021 for Rs 5,625 crore. They won the IPL on debut. Currently, the three-year-old franchise is worth Rs 100 crore to Rs 150 crore. According to a report in Economic Times, Adani Group and Torrent Group wanted to buy the Ahmedabad franchise of IPL in 2021. Now, both the companies are aggressively moving to buy the majority stake in Gujarat Titans.
The Indian Cricket League, which started in 2008, has become an attractive business asset over the last decade and a half. Hence, there is huge interest among investors to buy IPL franchises. However, this is not the first time Gautam Adani has shown interest in franchise cricket. She invested in the Women's Premier League or WPL in 2023. WPL's Ahmedabad franchise was bought for Rs 1,289 crore. In addition, he also bought a team in the T20 League of the United Arab Emirates.
