After a change in captaincy last season, the Gujarat Titans (GT) are all set to undergo an ownership change before the IPL 2025 edition. CVC Capital Partners, which bought the franchise in 2021, is looking to sell a majority stake while keeping a minority holding in the team. The two parties that are interested in taking over GT are the Adani Group and the Torrent Group.
According to an Economic Times report, the two groups that bid for the franchise three years ago are interested in buying the majority holding in the Gujarat Titans. Adani and Torrent are both based in Ahmedabad, and it makes sense for them to own their home team. The CVC Group, meanwhile, is based in Luxembourg.
“Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are now eager to buy a majority stake in Gujarat Titans. For CVC, it is a good opportunity to monetise its stake in the franchise. Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are now eager to buy a majority stake in Gujarat Titans. For CVC, it is a good opportunity to monetise its stake in the franchise,” stated the report.
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Reason behind Gujarat Titans ownership change
Three years back, the CVC Capital Group acquired the franchise for Rs 6232 crore. Right now, the team is estimated to be valued somewhere between Rs 8365 and Rs 12547 crore. At a minimum, the value of the Gujarat Titans has gone up by 30%, but they could have even doubled their value. So, why are they looking to give away the majority holding in the franchise?
Despite a title run in their maiden season and two consecutive finals, what could be the reason behind ownership? Well, it could very well be how the last season went. A baffling change in captaincy saw one of the most valuable players in all of cricket, Hardik Pandya, leave the franchise. After finishing No. 1 on the points table in IPL 2022 and 2023, they ended up 8th last season.
The sudden fall in performance, even though it is probably of their own making, could very well be the reason behind them selling the majority share of Gujarat Titans.
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