Adani Group and Torrent Group are in discussions with private equity firm CVC Capital Partners to acquire a controlling stake in the Indian Premier League (IPL) franchise Gujarat Titans. CVC Capital Partners, which purchased the franchise in 2021 for ₹5,625 crore, is reportedly willing to sell a majority stake while retaining a minority holding, according to the Economic Times. The Board of Control for Cricket in India’s (BCCI) lock-in period, preventing new teams from selling stakes, will end in February 2025.
The three-year-old Gujarat Titans franchise could be valued between $1 billion and $1.5 billion. An official familiar with the matter told ET, “Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are vying aggressively to buy a majority stake in Gujarat Titans. For CVC, it’s a great opportunity to monetize its stake in the franchise.” Another source noted that IPL franchises have garnered significant investor interest due to the league’s solid cash flows and attractiveness as an asset.
Gautam Adani has already ventured into cricket by acquiring teams in the Women’s Premier League (WPL) and the UAE-based International League T20. In 2023, Adani secured the WPL’s Ahmedabad franchise with a top bid of ₹1,289 crore. Earlier, Gujarat Titans COO Arvinder Singh expressed confidence that the franchise would attain profitability in the next media rights cycle, citing that even the original ten franchises took four to five years to become profitable.
This potential acquisition by Adani or Torrent marks a significant development in the IPL landscape, highlighting the growing financial and commercial appeal of the league. The transaction, if finalized, could further elevate the brand value and market presence of the Gujarat Titans.
Gautam Adani and Torrent Vie to Buy IPL Team Gujarat Titans from CVC Capital: Report
