Luxembourg-based private equity firm CVC Capitals, owners of the Gujarat Titans (GT), are reportedly in talks with the Adani Group and Torrent Group to sell a majority stake in their IPL franchise. CVC Capitals, which has significant investments in major sports leagues like La Liga, Premiership Rugby, and Women’s Tennis Associations, is looking to offload their stakes in GT. However, due to BCCI rules on IPL stake sales, they must retain a minority stake until February 2025.
GT, which had a stellar debut in 2022 by winning the IPL title under Hardik Pandya and finishing as runners-up the following season, faced a challenging 2024 season. After Pandya returned to his former club, Mumbai Indians, GT appointed youngster Shubman Gill as their new skipper. Unfortunately, Gill’s first season as captain was disappointing, with GT finishing seventh in the group stage, winning only five out of fourteen games.
The Adani Group, led by chairman Gautam Adani, has shown a long-standing interest in acquiring the Gujarat Titans. They initially placed a bid of 5100 crores INR during the team’s inception in 2021 but were outbid by CVC Capitals. The Adani Group, which recently acquired the Women’s Premier League (WPL) team of Gujarat Titans for 1289 crores INR, remains keen on investing in the sport sector and is eyeing the opportunity to purchase GT.
Additionally, the Torrent Group, another Ahmedabad-based company, is also in talks with CVC Capitals. Torrent Group had previously competed against the Adani Group in 2021 with a bid of 4653 crores INR but lost to CVC Capitals. With both Adani and Torrent groups showing renewed interest, the Gujarat Titans sale is shaping up to be highly competitive.
