Gujarat Titans To Get A New Owner Before IPL 2025

The IPL franchise Gujarat Titans (GT), based in Ahmedabad, will have a new owner before IPL 2025, as Torrent Group, a leading Indian multinational company based in Ahmedabad, is set to acquire a majority stake.

Reports have stated that Torrent will buy a 67% share of Gujarat Titans from CVC Capital Partners ahead of IPL 2025.

CVC Capital Partners purchased the IPL franchise in 2021, but the Torrent Group will take over as primary proprietors of the Gujarat Titans beginning with the following season, according to ESPNCricinfo.

Torrent Group to take over Gujarat Titans ownership from CVC Capitals

However, the exact worth of the stake and other elements of the agreement are still being worked out, although the transaction is now being handled by the IPL Governing Council.

Once the IPL Governing Council approves the latest contract, the Torrent Group will take on the role of key stakeholders in the GT, with their engagement set to begin next month, when the forthcoming IPL 2025 begins.

Notably, CVC Capital Partners is a global private equity group that initially paid INR 5625 crore to acquire GT when the BCCI added two extra teams to the league in 2021.

Gujarat Titans won the IPL title in their maiden season in 2022, then finished runners-up in 2023 under Hardik Pandya's captaincy, and eighth in the IPL 2024 under Shubman Gill's leadership.

Torrent Group is desperate to enter IPL

The Torrent Group has shown an interest in cricket-related projects for a long time. Their subsidiary, Torrent Sports Ventures Private Limited, was one of the final bidders in the BCCI's 2021 auction for two new IPL franchises.

Torrent bid for the Ahmedabad and Lucknow franchises in that auction but were eventually outbid by other firms, with the Lucknow Super Giants (LSG) owned by Sanjiv Goenka's RPSG Group. Torrent has also bid for a team in the Women's Premier League (WPL), but they were denied entry into the BCCI's franchise league system.

With an estimated valuation of INR 41,000 crore, Torrent Group is one of India's leading multinational corporations. They have two subsidiaries: Torrent Power and Torrent Pharmaceuticals. Jinal Mehta, the son of Sudhir Mehta, the Torrent Group's chairman emeritus, will spearhead the company's IPL venture.

Jinal Mehta of Torrent Group to oversee GT operations in IPL

Jinal Mehta is preparing to manage the Torrent Group's IPL investment in Gujarat Titans. This deal will end CVC Capital Partners' total control over the club, following their first successful entry into the world of cricket.

Prior to acquiring GT, CVC bid for Delhi Capitals in 2018 when GMR Group surrendered a portion of their investment in the franchise. However, the Delhi Capitals were subsequently purchased by Jindal South West (JSW) for INR 550 crore at the time; hence, the CVC played no role in this transaction.

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