IPL: Torrent Group acquires majority stake in Gujarat Titans in ownership shake up | Cricket News
Torrent Group (Torrent) has acquired a majority stake of 67 per cent in the Indian Premier League (IPL) franchise Gujarat Titans. The deal — which is subject to customary closing conditions and approvals, including from the Board of Control for Cricket in India — will see previous owners CVC retain a minority stake of 33 per cent in the franchise.
Subject to the final approval from the IPL’s governing council, GT’s new owners could likely be involved from the IPL 2025 season. The upcoming IPL season will start on March 21.
CVC, a global private equity fund, had paid Rs 5625 crore in 2021 to buy the Gujarat Titans. The Ahmedabad-based franchise had gone on to win the IPL title in their first season itself in 2022 before making the final in thenext season. After losing captain and talisman Hardik Pandya after season 2 to the Mumbai Indians, Gujarat Titans had finished eighth in 2024. The franchise is based out of the Narendra Modi Stadium, which boasts of being the world’s largest cricket stadium with a capacity of over 100,000.
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Amit Soni, Partner at CVC; Varun Mehta from Torrent; Siddharth Patel, Managing Partner at CVC; Shaan Mehta from Torrent and Aman Mehta from Torrent.
“Torrent Group has entered into a definitive agreement to acquire majority stake of 67% in the renowned Indian Premier League (IPL) franchise, Gujarat Titans (Irelia Sports India Private Limited) from Irelia Company Pte Ltd (“Irelia”) – currently fully owned funds managed or advised CVC,” a press release stated.
“As part of the deal, Irelia will retain a substantial minority stake of 33% in the franchise,” it further stated.
Jinal Mehta, Director of Torrent Group, said, “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. We are committed to nurturing the Gujarat Titans team and creating a lasting legacy for everyone involved – our fanbase, the players and our employees.”
Siddharth Patel, Managing Partner at CVC, said: “We are excited to announce this deal, which marks the beginning of a new chapter in India’s most popular sporting event and our team Gujarat Titans. Our participation in Indian cricket started strongly, securing the Gujarat franchise, winning the IPL title in our first season and emerging as runners up in our second season.”
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