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Luxembourg-based private equity firm CVC Capitals, owners of Gujarat Titans, are reportedly engaged in discussions with the Adani and Torrent groups regarding the potential sale of a majority stake in their IPL team.
GT faced challenges during the 2024 IPL season following their title win in their debut 2022 season under Hardik Pandya and a runner-up finish the next year. With Pandya's departure to his former club, Mumbai Indians, GT sought a new captain and turned to youngster Shubman Gill. Reports indicate that due to CVC's significant investments in major football leagues such as La Liga, Premiership Rugby, and Women's Tennis Associations, they are seeking to divest their stake in GT. However, BCCI regulations mandate that CVC must retain a minority stake until February 2025.
Chairman Gautam Adani and the Adani group have shown persistent interest in acquiring Gujarat Titans since the team's inception in the IPL in 2021. Despite bidding 5100 crores INR initially, they were unsuccessful in securing ownership. Recently, the Adani group acquired the Women's Premier League (WPL) team associated with Gujarat Titans for 1289 crores INR, underscoring their commitment to sports investments.
Simultaneously, Torrent group, another Ahmedabad-based entity, is also reportedly in discussions with CVC Capitals. Torrent group had previously vied for ownership of GT in 2021 alongside the Adani group, making a bid of 4653 crores INR, but lost out to CVC Capitals at the time.