Ahmedabad-based conglomerate Torrent Group is set to buy a stake of 67% in Indian Premier League (IPL) franchise Gujarat Titans, according to a report by ESPNCricinfo.
If given the nod by the IPL governing council, Torrent Group could likely be part of the IPL 2025 starting from March 21.
Currently, Gujarat Titans are owned by CVC Capital Partners (Irelia Company Pte Ltd) and had won the bid to own the franchise from Ahmedabad when the IPL decided to add two more teams to the eight-team competition. CVC had paid INR 5,625 crore in 2021 to buy Gujarat Titans as they went on to win the IPL 2022 in their debut season under the captaincy of Baroda allrounder Hardik Pandya.
They finished runners-up in IPL 2023, losing the final to Chennai Super Kings. But in the third season, the team saw Pandya moving back to Mumbai Indians where he was made the captain. It contributed to Gujarat Titans losing their way in the league phase and finishing eighth with five wins and seven losses from 14 matches. Two matches had no result.
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As per the report, Torrent Sports Ventures Private Limited was among the bidders at the BCCI auction in 2021 for teams from six cities —- Cuttack, Dharamsala, Guwahati, Indore, Ahmedabad and Lucknow. Torrent had big for Ahmedabad (INR 4,653 crore) and for Lucknow (INR 4,356 crore).
The company had also bid for a Women’s Premier League (WPL) team in 2023 with little to no success. Ahmedabad, Kolkata, Chennai, Bengaluru, Delhi, Dharamsala, Guwahati, Indore, Lucknow and Mumbai were the cities picked for franchises in the auction. Torrent had bid unsuccessfully for three cities then. Mumbai, Ahmedabad, Bengaluru, Delhi and Lucknow won the bids for the WPL franchises.
As per their website Torrent Group has a valuation of INR 41,000 crore and has Torrent Power and Torrent Pharma as its key subsidiaries.
Gujarat Titans are currently captained by Shubman Gill and are coached by former India pacer Ashish Nehra. The team also features international stars such Mohammed Siraj, Rashid Khan and Jos Buttler.
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