The Gujarat Titans are set for a major ownership shift as Ahmedabad-based pharmaceutical company Torrent is acquiring a majority stake in the Indian Premier League (IPL) franchise, according to Cricbuzz. CVC Capital, the private equity firm currently controlling the team, has formally requested permission from the Board of Control for Cricket in India (BCCI) to proceed with the sale.
The change in ownership has been in discussion for nearly two years but was delayed due to the BCCI’s mandatory three-year lock-in clause, which restricts franchise management changes within the first three years of ownership. With CVC having acquired the franchise in February 2022, this restriction ended on February 10, clearing the way for the transfer.
Representatives from both companies have confirmed the development to Cricbuzz. Torrent is set to acquire a controlling stake of over 60% in the Titans, with the franchise’s valuation having increased by more than 50%. While the exact financial details remain undisclosed, it is believed that the team is now valued at approximately Rs 7800 crore.
Torrent previously participated in the 2022 IPL franchise auction but was unsuccessful. The company had bid Rs 4653 crore for a team when the BCCI auctioned two new franchises—Ahmedabad and Lucknow. Ultimately, CVC Capital secured the Ahmedabad franchise with a Rs 5625 crore bid, while the Adani Group, considered a frontrunner, had bid Rs 5100 crore.
Since its inception, Gujarat Titans have demonstrated strong on-field performance, winning the IPL title in their debut season in 2022 and finishing as runners-up in 2023. This success has bolstered their business value, placing them ahead of the Lucknow franchise, which was purchased by Sanjiv Goenka for Rs 7090 crore.
Despite the ownership change, the team’s management structure is expected to remain stable for the upcoming season. Shubman Gill will continue as captain, while the coaching duo of Ashish Nehra and Vikram Solanki will retain their roles. Any further alterations in management will likely be considered only after the IPL season concludes.
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Name of Author: Cricexec Staff
