Former IPL champions Gujarat Titans will have new owners as an Indian Business Conglomerate, the Torrent group, is in line to gain a majority stake in the franchise. The conglomerate established in Ahmedabad buys a 67 percent interest in the CVC Capital Partners team (Irelia Company PVT LTD), which the team had purchased in 2021. The deal is waiting for the final approval of the IPL Roem Council, which would allow Torrent, group to take control prior to the coming season, which starts on March 21.
“The Torrent Group conversations that take two thirds (67 percent) is at an advanced stage. The Lock-in period for CVC Group is the only owners to end in February 2025, after which they are free to sell the deployment,” ” An IPL source told PTI about anonymity conditions.
“Torrent Group is one of the biggest names in the pharmaceutical sector in India and in 2021, when BCCI invited bids for two new teams, they had shown active interest. Of course, every change in the ownership pattern requires approval from BCCI that is expected in the coming days , “he added.
While the valuation of the interest sold by CVC is not confirmed, the global private equity company RS had invested 5,625 crore to acquire the Titans in 2021.
Under the leadership of Hardik Pandya, the team won the title in 2022 and signed it with a second place in 2023. In the past season, the side led by Shubman finished in eighth place.
Apart from Gill, his other important players in the team include Afghanistan spinner Rashid Khan, England White-Ball Captain Jos Butler and India Pacer Mohammed Siraj.
Torrent Group, with a rating of approximately RS 41,000 Crore, has tried to enter the cricket domain.
Through her subsidiary, Torrent Sports Ventures Private Limited, it had previously offered it on the Ahmedabad (RS 4,653 Crore) and Luckknow (RS 4,356 Crore) franchises in 2021, when the BCCI had an auction for two new teams.
Two years later, the group also made a failed attempt to acquire one of the three cities for grabbing in the Inaugural Women's Premier League (WPL).
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