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Torrent Group Will Buy Majority Stake In Gujarat Titans
Published - 10-FEB-2025 11:58 IST | Updated - 10-FEB-2025 11:58 IST
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Ahmedabad based company Torrent Group is ready to buy the majority stake in Indian Premier League franchise Gujarat Titans. Torrent Group is communicating with the European private equity giants CVC Capital partner, who is the current majority of the team.
Ownership With CVC Capital Partner
Since 2021, CVC Capital Partners has owned the Gujarat Titans, who have seen immense growth in the IPL. The team, which won the title in their 2022 season debut, is worth more than $1 billion, which reflects the IPL's growing sponsorship and broadcast rights income.
Why Torrent Buy This Franchise
According to sources, CVC Capital Partners may hold a sizable minority ownership in the brand, even if Torrent Group is expected to purchase the majority. This calculated action demonstrates Torrent's dedication to developing its presence in the sports industry and is in line with cricket's increasing commercial appeal in India.
Torrent And Adani Fail To Buy Franchise
In 2021, Torrent and Adani both made unsuccessful bids to purchase the franchise based in Ahmedabad. The squad was acquired by CVC Capital Partners for ₹5,625 crore, surpassing the offers of Torrent Group and Adani Group, which had offered ₹4,653 crore and ₹5,100 crore, respectively.
Gujarat Titans Has Won Maiden IPL Title In 2022
Gujarat Titans, this franchise debuted in the Indian Premier League in 2022 with LSG (Lucknow SuperGiants). Hardik Pandey, who is the captain of Gujarat Titans from 2022-2024. Under his captaincy Gujarat Titans won their maiden IPL title in 2022.
2025-02-10