New Delhi: Gujarat Titans (GT), the franchise that lifted the Indian Premier League 2022 title in their debut season, is reportedly up for sale and might get a new owner for the upcoming IPL 2025. Their current owner, CVC Capitals is said to be in talks with the Adani Group and Torrent Group to release a majority stake of the franchise. After the IPL 2022 triumph, GT ended up as the runner-up in IPL 2023.
This comes well under the Board of Control for Cricket in India’s (BCCI) lock-in period which restricts new teams from selling a stake post-February next year. CVC Capitals had bought the Ahmedabad-based franchise for a whopping Rs. 5,625 crore and had named it Gujarat Titans back in 2021. The franchise’s current estimated value is anywhere between $1 billion and $1.5 billion.
“Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are now eager to buy a majority stake in Gujarat Titans. For CVC, it is a good opportunity to monetize its stake in the franchise,” an official keeping track of the matter, was quoted as saying by The Economic Times.
“IPL franchises have been attracting a lot of investor attention since the league has established itself as an attractive asset with solid cash flows,” another official said.
Cash-rich league
According to American investment bank Houlihan Lokey, the IPL is valued at $16.4 billion in the current scenario in which a record $6 billion is the courtesy of media rights alone. The BCCI had notably signed a stupendous media rights deal with Disney Star and Viacom18 in 2022.
It is noteworthy that both Adani and Torrent are Ahmedabad-based companies, whereas CVC is a Luxembourg-based private company. CVC is also known for its investments in big sporting tournaments like La Liga, Premiership Rugby, and the Women’s Tennis Association. The Adani Group possesses a franchise in the Women’s Premier League (WPL) based in Gujarat, named Gujarat Giants, and also a team in the UAE-based International League T20 tournament.
Adani and Torrent Groups are reportedly in talks with Gujarat Titans’ owner CVC Capitals to buy a majority stake in the franchise ahead of the IPL 2025. Cricket Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
