Adani Group chairman Gautam Adani is now eyeing the IPL team Gujarat Titans. Adani and Torrent Group are talking with CVC Capital Partners, a private equity firm, to sell a controlling stake in the Indian Premier League (IPL) franchise Gujarat Titans.
The Economic Times quoted sources saying CVC is ready to sell a major stake in the IPL franchise. The Board of Control for Cricket in India (BCCI) lock-in period ends in February 2025, which prevents new teams from selling stakes.
Let us tell you that Gujarat Titans is a three-year-old franchise. Its value can be between one billion dollars to one and a half billion dollars. CVC bought the franchise in 2021 for Rs 5,625 crore.
An official associated with the matter told ET that Adani and Torrent are in the race to buy a majority stake in Gujarat Titans after losing the opportunity to buy the IPL’s Ahmedabad franchise in 2021. This is a great opportunity for CVC to cash in on its stake in the franchise. At that time, the group bid Rs 5,100 crore, while Torrent bid Rs 4,653 crore.
Adani Owns WPL’s Ahmedabad Franchise.
Another official told the outlet that IPL franchises are attracting much attention from investors as the league has established itself as an attractive asset with solid cash flows. Gautam Adani has invested in cricket by acquiring teams in the Women’s Premier League (WPL) and the UAE-BRD International League T20. In 2023, Adani acquired the WPL’s Ahmedabad franchise with a top bid of Rs 1,289 crore.
Gujarat Titans COO Arvinder Singh said the franchise will achieve profitability in the next media rights cycle. Even the original ten franchises took four to five years before becoming profitable. We are confident that not only will we make profits, but our brand value will also grow rapidly.
