The unique house owners will retain the minority stake.
Indian Premier League (IPL) winners within the 2022 season, Gujarat Titans (GT) will now have a brand new proprietor from the upcoming IPL 2025 season. It has now been confirmed that the Torrent Group, a Ahmedabad-based diversified conglomerate has acquired a 67% stake within the franchise.
However, based on the deal, GT’s authentic house owners CVC Capital Companions (Irelia Firm Pte Ltd) will retain a minority stake of 33 per cent.
Talking after the developments, Jinal Mehta, Director of Torrent Group mentioned,
“It’s a matter of nice pleasure for us to welcome Gujarat Titans and hundreds of thousands of its passionate followers into the Torrent Group. As sports activities continues to achieve prominence in India, Torrent sees nice potential on this quickly rising sector. With the acquisition of a majority stake within the Gujarat Titans, we’re excited to have the chance to raise our fan expertise and unlock new development avenues within the years to returnâ€.
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New deal valued at a staggering 7800 crores
Whereas CVC had paid INR 5,625 crore in 2021 to purchase Gujarat Titans, the valuation of the brand new deal has not been disclosed however it’s believed to be at 7800 crore, Cricbuzz reported.
GT made a powerful debut in 20222 and went on to win the title of their maiden IPL season underneath the captaincy of premier all-rounder Hardik Pandya.Â
They certified for the ultimate a second consecutive time in IPL 2023 as nicely however completed runners-up after dropping to Chennai Tremendous Kings within the summit conflict. Of their third season, nonetheless, the staff noticed Pandya transferring again to his previous franchise Mumbai Indians the place he was made the captain.
It affected Gujarat Titans of their outcomes as they misplaced their manner within the league part and completed eighth with 5 wins and 7 losses underneath new skipper Shubman Gill.
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