Former IPL champions Gujarat Titans are set to undergo a significant ownership change, with Indian business conglomerate Torrent Group on the verge of acquiring a majority stake in the franchise. The Ahmedabad-based company is set to purchase a 67% stake from CVC Capital Partners (Irelia Company Pvt Ltd), which had acquired the team in 2021.
The deal is currently awaiting final approval from the IPL governing council, paving the way for Torrent Group to assume control ahead of the upcoming season, scheduled to begin on March 21.
“The talks of Torrent Group taking two-thirds ownership (67%) are at an advanced stage. The lock-in period for CVC as sole owners ends in February 2025, after which they are free to sell the stakes,” an IPL source told PTI on condition of anonymity.
Torrent Group, a major player in India’s pharmaceutical sector, had previously expressed interest in IPL ownership when the BCCI invited bids for two new franchises in 2021. “Any change in ownership pattern requires BCCI approval, which is expected to be granted in the coming days,” the source added.
While the financial details of the transaction remain undisclosed, CVC had initially invested ₹5,625 crore to acquire Gujarat Titans. Under the leadership of Hardik Pandya, the team secured the IPL title in 2022 and finished as runners-up in 2023. However, the Shubman Gill-led side had a disappointing campaign last season, finishing eighth.
Key players in the squad include Afghan spinner Rashid Khan, England’s white-ball captain Jos Buttler, and Indian pacer Mohammed Siraj.
Torrent Group, valued at approximately ₹41,000 crore, has been keen to expand into the cricketing space. Through its subsidiary, Torrent Sports Ventures Private Limited, the group had previously bid for the Ahmedabad (₹4,653 crore) and Lucknow (₹4,356 crore) franchises in 2021. It also attempted to secure a team in the Women’s Premier League (WPL) two years later but was unsuccessful.
The impending acquisition marks a major step for Torrent Group in its pursuit of a foothold in Indian cricket, adding another corporate powerhouse to the IPL franchise ownership landscape.
