CVC Capital Partners, the private equity giant, is reportedly in discussions to sell their controlling stake in the Indian Premier League (IPL) franchise Gujarat Titans, as per a report by The Economic Times (ET).
The prospective buyers are major Indian conglomerates Adani Group and Torrent Group, both of which are bidding for ownership. While CVC is prepared to relinquish control, it may retain a minority shareholding in the team.
However, any potential transaction involving the Titans will need to wait until 2025, due to the Board of Control for Cricket in India's (BCCI) lock-in period, which currently prohibits new teams from selling stakes.
Founded in 2021, the Gujarat Titans could fetch between $1 billion and $1.5 billion, representing a substantial return on investment for CVC, which initially acquired the franchise for ₹5,625 crore (approximately $745 million).
In 2021, both Adani and Torrent had bid against CVC for ownership of the Ahmedabad-based team. Adani's offer stood at ₹5,100 crore (about $610 million), while Torrent bid ₹4,653 crore (around $556 million), both falling short of CVC's successful bid.
Since then, Adani Group has expanded its cricket portfolio significantly. It owns the Gulf Giants, a team in the International League T20, and in the previous year, secured the Ahmedabad franchise in the Women’s Premier League (WPL) for ₹1,289 crore (approximately $158 million).
Ahead of this year’s IPL season, the Titans' Chief Operating Officer, Arvinder Singh, indicated to ET that the team is on track to achieve profitability during the league’s next media rights cycle, beginning in 2028. Singh also projected a 24 per cent year-over-year increase in the franchise’s sponsorship revenue, expected to reach ₹90 crore (around $10.8 million).
This development underscores the robust financial potential and growing investor interest in IPL franchises, positioning the Gujarat Titans as a highly attractive asset in the cricketing world.
Kommentare