Ahmedabad-based conglomerate acquires majority stake in Gujarat Titans ahead of IPL 2025

Ahmedabad-based multinational conglomerate Torrent Group has acquired a majority stake in Gujarat Titans (GT) ahead of the upcoming season of the Indian Premier League (IPL). The group entered an agreement with Irelia Sports India Private Limited through its holding company Torrent Investments Private Limited.

Irelia, "currently fully owned by funds managed or advised by CVC," will continue owning a minority stake in the franchise, with a holding of 33 per cent. Speaking about the development, director of Torrent Group Jinal Mehta said in an official release:

"It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As Sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come.

"We are committed to nurturing the Gujarat Titans team and creating a lasting legacy for everyone involved – our fanbase, the players and our employees. With a proven track-record of delivering high quality products and services across multiple sectors, Torrent is well-positioned to set new standards of excellence in the Sports industry through the acquisition of Gujarat Titans."

It is worth mentioning that the acquisition is subject to customary closing conditions and approvals, including the Board of Control for Cricket in India (BCCI). According to TOI, Torrent Group purchased the 67 per cent stake in the franchise at ₹5,000 crore.

The Gujarat side were among the new two teams to be added to the IPL after CVC won the bid in an invitation tender issued by IPL's governing council in 2021 at ₹5, 625 crore. The side kicked off their stint in the cash-rich league with a title victory under Hardik Pandya's captaincy in their maiden appearance in 2022.

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"We are excited to announce this deal, which marks the beginning of a new chapter" - CVC managing partner on Torrent Group deal for Gujarat Titans

CVC managing partner Siddharth Patel expressed excitement over the deal with Torrent Group for the Gujarat-based franchise. He emphasized that a new chapter is set to embark on the IPL and the team's legacy.

Patel said in a release shared by CVC on its website:

"We are excited to announce this deal, which marks the beginning of a new chapter in India's most popular sporting event and our team Gujarat Titans. Our participation in Indian Cricket started strongly, securing the Gujarat franchise, winning the IPL title in our first season and emerging as runners-up in our second season."

India's top-order batter Shubman Gill will continue to lead Gujarat for IPL 2025. Former pacer Ashish Nehra has retained his position as the side's head coach.