Indian Premier League champions in 2022, Gujarat Titans are set to have a new set of owners with Torrent Group – Indian business conglomerate – in line to acquire a majority stake in the franchise. The Ahmedabad-based franchise came into existence in 2021 when CVC Capital Partners bought the team for ₹5,625 crore.
According to a PTI report, the Torrent Group are set to buy 67 per cent stake in the team from CVC Capital Partners. The deal is awaiting the IPL governing council and BCCI’s approval, post which the Torrent Group will take control of the franchise ahead of IPL 2025, beginning on March 21. However, the valuation of the stake being sold by CVC Capitals remains unconfirmed.
“The talks of Torrent Group taking two third ownership (67 per cent) is at an advanced stage. The lock-in period for CVC group as sole owners ends in February 2025 after which they are free to sell the stakes,” an IPL source told the news agency.
All you need to know about Torrent Group
Torrent Group is one of the biggest names in Indian pharmaceutical sector and boasts a valuation of approximately ₹41,000 crore. They had shown active interest in 2021 when the BCCI invited bids two the two new IPL teams.
In 2021, through its subsidiary, Torrent Sports Ventures Private Limited, had previously bid for the Ahmedabad ( ₹4,653 crore) and Lucknow ( ₹4,356 crore) franchises. They had also made an unsuccessful attempt two years later to acquire one of the three teams in the inaugural Women’s Premier League (WPL).
Gujarat Titans’ journey in IPL
Gujarat Titans shocked everyone when they won the title in their inaugural season in 2022 under the leadership of Hardik Pandya. They could have made it two in two years had the Hardik Pandya-led side nit finished runners-up to Chennai Super Kings in 2023.
With Hardik Pandya returning to Mumbai Indians in 2022, Shubman Gill was handed the captaincy duties ahead of the IPL 2024. However, Gujarat Titans finished eighth in the previous season.
Apart from Shubman Gill, other key players in the team include Afghanistan spinner Rashid Khan. The franchise bought the likes of England white-ball captain Jos Buttler and India pacer Mohammed Siraj ahead of the IPL 2025 season.
