CVC Capital Partners had bought the IPL franchise in 2021, but now the Torrent Group is to take over as the principal owners of the Gujarat Titans as early as the upcoming season, as reported by ESPNCricinfo.
Once the IPL Governing Council gives the approval, the latest deal will see the Torrent Group step into the role of major stakeholders in the GT, with their involvement expected to begin from next month when the upcoming IPL 2025 kicks off.
Notably, CVC Capital Partners is a global private equity firm, and they had initially paid INR 5625 crore to buy GT when the BCCI introduced two new teams into the league in 2021.
Torrent Group desperate to enter IPL
Meanwhile, the Torrent Group has been showing interest in cricket-related ventures for a long time now. Their subsidiary, Torrent Sports Ventures Private Limited, was one of the final bidders during the 2021 auction held by the BCCI to introduce two new IPL franchises.
With an estimated valuation of INR 41,000 crore, Torrent Group is one of India’s top multinational companies. They have two subsidiaries: Torrent Power and Torrent Pharma. The man behind Torrent’s IPL investment will be Jinal Mehta, the son of Sudhir Mehta, the chairman emeritus of Torrent Group.
Jinal Mehta to oversee Gujarat Titans in the IPL
Jinal is all set to lead the Torrent Group’s IPL investment in Gujarat Titans. For CVC Capital Partners, this deal will mark the end of their total control over the franchise, after what was their first successful venture into the world of cricket.
Notably, the Gujarat Titans play their home matches at the Narendra Modi Stadium in Ahmedabad, which is the largest cricket stadium in the world, with a seating capacity of over 100,000. They have a talented roster, featuring Shubman Gill, Rashid Khan, Jos Buttler, and Mohammed Siraj for the next season.
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