Reports: Torrent to take over Gujarat Titans' ownership from CVC Capitals

A change of wind is expected in the Indian Premier League franchise, Gujarat Titans. The team which commenced its IPL journey in 2022, will get a new stakeholder in the form of Torrent, an Ahmedabad-based Pharmaceuticals company, which is poised to buy the majority of stakes in the franchise. CVC Capitals, a private equity firm, that holds the ownership of Titans currently, has sent a formal request to the Board of Control for Cricket in India (BCCI). 

Any IPL franchise has a mandatory three-year lock-in clause, due to this, Torrent which had initial plans to buy the stakes since two years had to wait for the due date to close. CVC bought the franchise in 2022 and according to BCCI, management cannot be changed before the stipulated time. The lock-in period will end on Monday (February 10) and CVC capitals can go for a management shift thereafter. 

Also Read: Rashid Khan likely to replace Shubman Gill as Gujarat Titans skipper

According to Cricbuzz, the valuation of Torrent’s stake in the franchise has gone up by more than 50 per cent. The report also added that Torrent will buy more than 60 per cent of the team. It is worth noting that, Torrent was one of the entities to buy a team in 2022, where Gujarat and Lucknow teams were introduced but was unsuccessful in its attempt. 

Torrent’s bid in the auction was INR 4653 crore and even Adani group has placed its bids at INR 5100 crore. But CVC Capital overtook both entities and claimed a stake in the Gujarat team at INR 5625 crore. It is believed that the Gujarat Titans team is valued at Rs Rs 7800 crores. The majority of its popular base was created when it won its debut edition of the IPL title in 2022 and also made it to the finals in IPL 2023. Notably, present Titans captain, Shubman Gill and the coaching staff of the Ashish Nehra-Vikram Solanki will continue with the team.