Adani and Torrent in Talks to Acquire Gujarat Titans from CVC Capital
Adani Group and Torrent Group are reportedly in discussions with CVC Capital Partners to acquire a controlling stake in the Indian Premier League (IPL) franchise, Gujarat Titans. According to sources cited by the Economic Times, CVC is willing to sell a majority stake while retaining a minority holding. This potential sale comes ahead of the Board of Control for Cricket in India’s (BCCI) lock-in period ending in February 2025.
Valuation and History of Gujarat Titans
Gujarat Titans, a relatively new franchise established in 2021, could be valued between $1 billion and $1.5 billion. CVC Capital Partners initially purchased the team for ₹5,625 crore. The franchise has quickly become a valuable asset in the IPL ecosystem, attracting significant investor interest.
Interest from Adani and Torrent
An official familiar with the negotiations stated, “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.” The interest from these major business groups underscores the franchise’s attractiveness and potential for growth.
Adani Group’s Cricket Investments
Gautam Adani’s interest in cricket extends beyond the IPL. The Adani Group has already invested in the Women’s Premier League (WPL) and the UAE-based International League T20. In 2023, Adani acquired the WPL’s Ahmedabad franchise with a top bid of ₹1,289 crore. These investments highlight Adani’s commitment to expanding his footprint in the cricketing world.
Future Prospects of Gujarat Titans
Gujarat Titans’ Chief Operating Officer, Arvinder Singh, expressed confidence in the franchise’s future profitability. He stated, “We will attain profitability in the next media rights cycle. Even the original ten franchises took four to five years before they turned profitable. We are confident that not only will we turn profitable, but our brand value will also increase exponentially.” This optimism is fueled by the IPL’s growing popularity and lucrative media rights deals.
Conclusion
The potential sale of Gujarat Titans to Adani Group or Torrent Group marks a significant development in the IPL landscape. With CVC Capital Partners looking to offload a majority stake, the franchise’s valuation and future prospects make it an attractive investment opportunity. As the BCCI’s lock-in period nears its end, the interest from major business conglomerates like Adani and Torrent signals a new era of growth and profitability for the Gujarat Titans.(cricket betting tips)