According to media reports, billionaire Gautam Adani is planning to acquire a majority stake in the Indian Premier League (IPL) franchise Gujarat Titans. The potential deal would see Adani take over from CVC Capitals Partners, who bought the team for ₹5,625 crore ($745 million) in 2021.
The Economic Times reports that CVC Capitals Partners are currently in talks with both Adani Group and Torrent Group for the sale of the franchise. The Gujarat Titans, one of the youngest teams in the IPL, have a valuation of between $1 billion to $1.5 billion (Rs 12550 crore approximately). This significant valuation reflects the team’s impressive performance, including winning the IPL trophy in their debut season in 2022.
The Board of Control for Cricket in India (BCCI) has a lock-in period that prevents new teams from selling stakes, but this period will end in February 2025. This timing coincides with Adani’s interest in acquiring the team.
Adani’s interest in cricket is not new. In 2023, he bought the Gujarat Titans franchise in the Women’s Premier League (WPL) with a record bid of Rs 1,289 crore. In 2021, Adani Group also attempted to secure ownership of the Gujarat Titans in the IPL, bidding Rs 5,100 crore.
The Torrent Group was also in the running for the team in 2021, offering ₹4,653 crore. However, CVC Capitals, through their branch Irelia Sports India, ultimately won the bid with a higher offer.
In just three years, the Gujarat Titans, led by Shubman Gill, have become one of the strongest teams in the IPL. Under Hardik Pandya’s captaincy, the team won the IPL trophy in 2022, further solidifying their position as a valuable franchise in the cash-rich league.
