Ahmedabad : Ahmedabad-based Torrent Group owns an estimated 60 percent stake in IPL franchise Gujarat Titans at Rs. 6000 crore to its current owner C.V.C. It has been learned from media sources that it will be bought from Capital. Official announcement After some process European company C.V.C. An agreement has been reached between Capital and Torrent, which will be officially announced in the next period. Torrent Max (Major) and CVC. will hold a minimum (minor) share.IPL is the highest grossing popular league in the world. This is the reason why the value of all franchises has increased significantly. The current worth of Gujarat Titans is one billion dollars or approximately Rs. 8500 crores. To buy more than 60 percent stake at this price Rs. 6000 crores will have to be given to the torrent team. CVCA in 2022 Rs. Bought Gujarat Titans for 5625 crores. In its first season in 2022, Gujarat Titans became champions in IPL. In 2021, there was a bidding to get the ownership rights for the franchise in Gujarat, in which to everyone’s surprise, the European company CVCA, which had no identity in India, bid the highest Rs. 5,625 crore and surprised its rivals by outpacing them.
Adani and Torrent out in bidding:
The corporate world and the cricket circle were almost certain that Adani Juth would be the one to own the franchise in Gujarat, but Adani Juth failed to recognize the strength of CVC and their bidding was Rs. 5100 crores. CVC Adani Rs. 525 crore bid and got ownership rights. CVCA Rs. The team was bought with 5625 crores. In the 2022 season, the team under the captaincy of Hardik Pandya went on to become champions. Torrent Group also participated in that bidding but they paid Rs. 4,653 crores stood at the third position. While now to buy more than 60 percent share Rs. 6000 crore will have to be spent. Until February 2025, CVC will remain the sole owner under the terms of the agreement, but after this locking period, Torrent Group will become the majority owner of Gujarat Titans. Gujarati Touch will become the major owner torrent team of Gujarat Titans in IPL season 2025, IPL matches are played in May-June. With Torrent Juth being based in Ahmedabad, Gujarat Titans will also get the identity of being owned by a Gujarati company.
A look at the team changes:
Although the captain of Gujarat Titans, Hardik Pandya, who is a cricketer from Gujarat, was pulled by Mumbai Indians, Shubman Gill was made the captain of Gujarat Titans in the season of 2024. It remains to be seen how the Torrent group changes the team now that the mega auction will be held later this year or in February 2025.
