In a significant development in the world of cricket, Adani Group and Torrent Group are reportedly in discussions with private equity firm CVC Capital Partners to acquire a controlling stake in the Gujarat Titans, an Indian Premier League (IPL) team. According to a report by the Economic Times, CVC Capital Partners is contemplating selling a majority stake in the team while retaining a minority holding.
The Board of Control for Cricket in India (BCCI) is currently in a lock-in period preventing new teams from selling a stake, set to conclude by February 2025. This opens up the possibility for such transactions in the near future.
The Economic Times report suggests that the valuation of Gujarat Titans could range between $1 billion and $1.5 billion. CVC Capital Partners had acquired the franchise in 2021 for ₹5,625 crore, and the team, now three years old, has gained prominence in the IPL circuit.
Adani Group has previously ventured into cricket investments, having acquired teams in the Women’s Premier League (WPL) and UAE International League T20. In 2023, Adani secured the Ahmedabad franchise in the WPL with a winning bid of ₹1,289 crore, signaling their growing footprint in the cricketing arena.