Gujarat Titans has been among successful franchises since its debut in 2022. GT won its debut season and reached final in 2023. However, GT failed to continue the impeccable performance in 2024. It finished on 8th on points table. Moreover, GT lost its skipper to Mumbai Indians in 2024.
Courtesy: ANI (File Photo)
IPL: The champion of Indian Premier League's 2022 edition and runners-up of 2023 edition Gujarat Titans (GT) are likely to get new owner for the upcoming edition. According to reports, private equity firm CVC Capital Partners is in loop with Adani Group and Torrent Group to sell their stake in the team. The firm is likely to sell the majority of its holdings in the team. However, it will hold a minority of its shares.
BCCI's lock-in period holds the key
The Board of Control for Cricket in India (BCCI) has implemented a lock-in period that restricts news teams from selling their stake. However, the deadlock will be terminated in February 2025. Reports claimed that Gujarat Titans can be valued in the price range of 2 billion dollars to 1.5 billion dollars. Notably, CVC spent ₹5,625 crore (725 million dollars) in 2021.
Currently, US investment bank Houlihan Lokey has stated that the estimated value of IPL is 16.4 billion dollars. IPL earns its major part from the media rights deal, which is of a record-breaking ₹6 billion deal.
Gujarat Titans' dominance in IPL
Gujarat Titans has been among successful franchises since its debut in 2022. GT won its debut season and reached final in 2023. However, GT failed to continue the impeccable performance in 2024. It finished on 8th on points table. Moreover, GT lost its skipper to Mumbai Indians in 2024. Reports indicated that both the Adani group and the Torrent group are in a race to gain control of the side.
Adani, Torrent locks horn to win GT's bid
In 2022, the BCCI secured a media rights agreement with Disney Star and Viacom18. After losing the chance to acquire the IPL's Ahmedabad franchise in 2021, both Adani and Torrent are now making a strong push to acquire a majority stake in the Gujarat Titans. This presents a prime opportunity for CVC to capitalize on its investment in the franchise. Adani and Torrent are based in Ahmedabad, whereas CVC Capital is headquartered in Luxembourg.
If Torrent wins the bid then it will be its first big investment in cricket. However, Adani has already invested in cricket. Adani Group owns teams in the Women's Premier League (WPL) and UAE-based International League T20. Adani purchased WPL's Ahmedabad franchise for a whooping sum of Rs 1,289 crore.
