IPL franchise Gujarat Titans up for sale with Adani, Torrent in competition to own majority stake: Reports 

Gujarat Titans (GT) is reportedly up for sale as private equity firm CVC Capital Partners is looking to exit from its ownership of the IPL franchise. According to an Economic Times report, CVC is in touch with the Adani Group and Torrent Group to divest a majority stake. CVC wants to retain a minority interest too.

Adani and Torrent competed for the franchise when the Board of Control for Cricket in India (BCCI) invited tenders for two new teams - the Titans and the Lucknow Super Giants (LSG) - in 2021. However, CVC's Irelia Sports India beat their bids by massive margins to acquire the franchise for ₹5,625 crore.

"Having missed out on securing the Ahmedabad franchise during the 2021 IPL expansion, both Adani and Torrent are now competing fervently to acquire a majority stake in the Gujarat Titans," the report cited an official as saying.

"Investor interest in IPL franchises has soared as the league has demonstrated robust cash flow potential," the offical cited in the report added.

Any deal could only be certified after February 2025 at the end of the BCCI's lock-in period which restricts the new franchises from selling their stakes.

Gujarat Titans' value has soared in recent years

In 2021, Adani bid ₹5,100 crore for the Titans while the Torrent Group offered ₹4,653 crore. The Titans' value soared massively as Hardik Pandya led them to the title in their maiden year before reaching the final again in 2023.

In 2024, the team took a hit as Hardik left for Mumbai Indians and they finished eighth in 10 teams. However, the new captain Shubman Gill is a popular figure whose brand value is rising with his new vice-captaincy status for India.

Some experts now believe the team could be valued between $1 billion (₹8365 crore) and $1.5 billion (₹12547 crore).

Adani and Torrent are competing Indian multinational conglomerates based in Ahmedabad. Adani has made prior investments in cricket franchises, including in the Women's Premier League and the UAE's International League T20. Meanwhile, this would be one of the first such forays for Torrent.