The original owners will retain the minority stake.
Indian Premier League (IPL) winners in the 2022 season, Gujarat Titans (GT) will now have a new owner from the upcoming IPL 2025 season. It has now been confirmed that the Torrent Group, a Ahmedabad-based diversified conglomerate has acquired a 67% stake in the franchise.
On the other hand, according to the deal, GT’s original owners CVC Capital Partners (Irelia Company Pte Ltd) will retain a minority stake of 33 per cent.
Speaking after the developments, Jinal Mehta, Director of Torrent Group said,
“It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come”.
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While CVC had paid INR 5,625 crore in 2021 to buy Gujarat Titans, the valuation of the new deal has not been disclosed but it is believed to be at 7800 crore, Cricbuzz reported.
GT made a resounding debut in 20222 and went on to win the title in their maiden IPL season under the captaincy of premier all-rounder Hardik Pandya.
They qualified for the final a second consecutive time in IPL 2023 as well but finished runners-up after losing to Chennai Super Kings in the summit clash. In their third season, however, the team saw Pandya moving back to his old franchise Mumbai Indians where he was made the captain.
It affected Gujarat Titans in their results as they lost their way in the league phase and finished eighth with five wins and seven losses under new skipper Shubman Gill.
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