Now Gautam Adani will make a splash in IPL, he is going to buy that IPL cricket team which Neeta Ambani considers her enemy. After the Ambani family, now the Adani Group is also preparing to enter the IPL. Yes, private equity firm CVC Capital Partners is preparing to sell its controlling stake in the Gujarat Titans IPL team. In this regard, CVC is in talks with both the Adani Group and the Torrent Group. According to the news published in the Economic Times, CVC wants to sell a controlling stake in the team and not the entire stake. CVC wants to keep the rest of the shares with itself.
The deal will happen after February 2025
The Board of Control for Cricket in India (BCCI) has barred the new IPL teams from selling their stakes until February 2025. The deal can be materialised once the ban is lifted after February 2025. Sources claim that the three-year-old Gujarat Titans IPL franchise is expected to be valued between $1 billion and $1.5 billion. In 2021, it was bought by CVC Capital Partners for Rs 5,625 crore ($745 million).
CVC is trying to sell shares after making profit
After missing the opportunity to buy the Ahmedabad IPL team in 2021, Adani and Torrent Group are trying to buy a large stake in Gujarat Titans. At the same time, CVC also wants to sell its stake after making a profit. Both Adani and Torrent Group are based in Ahmedabad. At the same time, CVC Capital is based in Luxembourg. However, no comment has been made by any of the three in this regard. The reason for investors being attracted to the IPL franchise is that the IPL has become a league that generates good income.
CVC is a big company investing in sports
The source also claimed that unlike Torrent, the Adani Group has already entered the world of cricket. The group has bought teams in the Women's Premier League (WPL) and UAE's International League T20. In the year 2023, the Adani Group won the WPL franchise of Ahmedabad by bidding Rs 1,289 crore. CVC is a big company with assets of Rs 193 billion and invests in sports. The company has invested in sports organizations like La Liga, Premiership Rugby, Volleyball World and Women's Tennis Association.
Adani Group had placed a bid of 5100 crores
In 2021, BCCI had invited bids to include two new city-based teams in the IPL. The city of Ahmedabad was in the news the most. During that time, Adani Group had bid 5100 crores and Torrent Group had bid 4653 crores. Irelia Sports India, a company of CVC Capital, had outbid other companies for the Ahmedabad franchise. Gujarat Titans had won the IPL trophy in the very first season.
Why are Gujarat Titans Nita Ambani's 'enemy'?
After entering the IPL, Gujarat Titans handed over the command of the team to Hardik Pandya. Let us tell you that before this Hardik Pandya used to play for Mumbai Indians. Under Pandya's captaincy, Gujarat Titans won the championship in the very first season. After this, Mumbai Indians owned by Nita Ambani recalled Hardik Pandya from Gujarat Titans and handed him the captaincy of Mumbai Indians. Now Adani is in the race to buy the same team.
