Adani Group and Torrent Group are reportedly in discussions with private equity firm CVC Capital Partners to purchase a controlling stake in the Indian Premier League (IPL) franchise Gujarat Titans. CVC Capital is willing to sell a majority stake in the franchise while retaining a minority share, according to a report by the Economic Times, citing sources familiar with the matter. This potential transaction comes as the Board of Control for Cricket in India’s (BCCI) lock-in period preventing new teams from selling stakes is set to expire in February 2025.
The Gujarat Titans, a franchise established three years ago, could be valued between $1 billion and $1.5 billion. CVC Capital acquired the team in 2021 for ₹5,625 crore.
“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,” an official familiar with the negotiations told EconomicsTimes.
As per the media reports, another source mentioned that IPL franchises have been garnering significant investor interest, given the league’s reputation as an attractive asset with robust cash flows.
Gautam Adani has already invested in cricket, 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.
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