Reports say CVC Capital Partners is ready to sell a stake—majority—in the IPL franchise of Gujarat Titans, whose stake value is around $1 bln-$1.5 bn. According to Economic Times, CVC is negotiating with the Adani Group and the Torrent Group over selling a majority stake in the franchise, with both groups showing interest in the acquisition.
CVC Capital Partners bought its majority stake in Gujarat Titans in 2021 for an impressive ₹5625 crores, just ahead of the franchise’s first appearance in the IPL. This acquisition had come with a four-year lock-in period, which is nearing its end.
According to this mandate by BCCI, the owners cannot sell their majority stake before the end of the said lock-in period. With this, the lock-in period is due to end in February 2025, which is why the CVC is now trying to find a way to exit ownership of the franchise.
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Adani Group and Torrent Group had earlier shown keen interest in acquiring the Gujarat Titans. During the initial bidding process, Adani Group had submitted their bid at ₹5,100 crore while Torrent Group had quoted ₹4,653 crore.
Gujarat Titans are all set for an OWNERSHIP CHANGE before the IPL 2025 edition. CVC Capital Partners is looking to sell a majority stake
Adani Group and the Torrent Group are INTERESTED in buying the team. pic.twitter.com/X5vR4MJFFz
— Himanshu Pareek (@Sports_Himanshu) July 19, 2024
Since induction, the Gujarat Titans have made a mark in the Indian Premier League. Hardik Pandya led the team to a phenomenal debut in 2022 as the league toppers and crowned champions of the IPL in their very first season. They carried their good performance into 2023, making the final again after topping the table in the group stages. However, their campaign ended in disappointment as they lost the final to MS Dhoni’s Chennai Super Kings.
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For IPL 2024, Shubman Gill was made the captain of Gujarat Titans after Hardik Pandya moved to the Mumbai Indians. It turned out not to be a very successful season as the team finished eighth. The franchise will target a better performance in IPL 2025 as they look to bounce back from the tough season.
