Former IPL champions Gujarat Titans are set to have new owners as Indian business conglomerate, the Torrent Group, is in line to acquire a majority stake in the franchise. The Ahmedabad-based conglomerate the Torrent Group will purchase a 67 per cent stake in the team from CVC Capital Partners (Irelia Company Pvt Ltd), who had bought the team in 2021.
Gujarat Titans are owned by CVC Capital Partners, who bought the side in 2021 for a sum of Rs 5,625 crore. Titans were one of the two franchises introduced ahead of the 2022 edition of the IPL. The then Hardik Pandya-led side won the IPL in its maiden appearance in the tournament.
Gujarat Titans – A Franchise That Took the IPL by Storm
Gujarat Titans have had a remarkable journey since their inception in 2021. Purchased by CVC Capital Partners for INR 5625 crore (approximately $750 million), the team wasted no time in making its mark. Under the astute leadership of Hardik Pandya in 2022, they clinched the IPL title in their debut season. The following year, they reached the final, narrowly missing out on back-to-back championships. However, 2024 saw a dip in their performance, as they finished eighth in the points table.
Despite the setback, GT’s legacy remains intact, and with the new ownership stepping in, there is a renewed sense of anticipation surrounding the franchise. Their home ground, the Narendra Modi Stadium, remains a fortress, boasting the highest seating capacity of any cricket venue worldwide, capable of housing over 100,000 passionate fans.
Torrent Group’s big move before as they are set to acquire majority stake in Gujarat Titans franchise IPL 2025 onwards
Torrent Group, an Indian consortium based in Ahmedabad, is set to acquire a majority 67 per cent stake in the IPL franchise Gujarat Titans. As per an ESPNCricinfo report, the Torrent Group will buy 2/3rd of the stake from the original owners CVC Capital Partners (Irelia Company Pte Ltd) and the new ownership might be involved in, starting IPL 2025 subject to paperwork and approval for the IPL Governing Council.
The Titans were one of the two franchises introduced ahead of the 2022 edition of the IPL. CVC Capital Partners had bought the franchise for Rs 5,625 crore in a closed-bid auction. The Titans, the first team based in Ahmedabad, won the IPL in their very first appearance in the tournament in 2022, then led by Hardik Pandya. The Titans followed it up with yet another appearance in the final in 2023 before losing to the Chennai Super Kings on the final delivery of a thrilling rain-affected clash.
As per the company’s website, the Torrent Group is valued at Rs 41,000 crore and has prominent subsidiaries in Torrent Power and Torrent Pharma. Once the paperwork is processed, the approval of the divestment will come from the IPL GC, which is expected in the next two to three weeks with the IPL set to begin on March 21 this year.
The deal is awaiting final approval from the IPL governing council, which would allow Torrent Group to take control ahead of the upcoming season, which will begin on March 21.
“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 PTI on conditions of anonymity.
“Torrent group is one of the biggest names in Pharmaceutical sector in India and in 2021 when BCCI invited bids for two new teams, they had shown active interest. Obviously any change in ownership pattern requires approval from BCCI which is expected to be given in coming days,” he added.
While the valuation of the stake being sold by CVC remains unconfirmed, the global private equity firm had invested Rs 5,625 crore to acquire the Titans in 2021.
Under the leadership of Hardik Pandya, the team clinched the title in 2022 and signed off with a runner-up finish in 2023. However, in the last season, the Shubman Gill-led side finished in eighth place. Apart from Gill, other key players in the team include Afghanistan spinner Rashid Khan, England white-ball captain Jos Buttler, and India pacer Mohammed Siraj.
Torrent Group, which boasts a valuation of approximately Rs 41,000 crore, has been trying to make inroads into the cricketing domain. Through its subsidiary, Torrent Sports Ventures Private Limited, it had previously bid for the Ahmedabad (Rs 4,653 crore) and Lucknow (Rs 4,356 crore) franchises in 2021, when the BCCI held an auction for two new teams.
Two years later, the group also made an unsuccessful attempt to acquire one of the three cities up for grabs in the inaugural Women’s Premier League (WPL).
For Torrent Group, this acquisition marks the culmination of years of persistent efforts to enter the IPL ecosystem. The Ahmedabad-based conglomerate previously bid for an IPL franchise in 2021, offering INR 4653 crore for Ahmedabad and INR 4356 crore for Lucknow, but fell short. Their ambitions extended to the Women’s Premier League (WPL) in 2023, where they once again faced disappointment in securing a team.
This time, however, the story is different. By taking over Gujarat Titans, Torrent Group has finally realized its long-standing cricketing aspirations. Spearheading this new era for the franchise is Jinal Mehta, son of Torrent’s chairman emeritus Sudhir Mehta, ensuring a seamless transition with a focus on sustained success.
As Torrent Group takes the reins, Gujarat Titans remain a formidable unit, led by India’s young batting sensation, Shubman Gill. The team is loaded with match-winners, including Afghan spin wizard Rashid Khan, English powerhouse Jos Buttler, and Indian pace spearhead Mohammed Siraj.
Gill’s leadership will be under scrutiny as he looks to guide the Titans back to their dominant ways. The 2025 season presents a golden opportunity for GT to reclaim their status as one of the premier teams in the IPL.