The team bought the Adani Group for ‘defeating’ 5625 crores, now this IPL franchise is about to change

New Delhi: The management of Gujarat Titans is about to change. Ahmedabad’s pharmaceutical company Torrent Indian Premier League (IPL) is buying a large stake in the franchise. A formal request has been sent to the Board of Control for Cricket in India (BCCI) on behalf of the private equity firm CVC Capital, which controls the Titans team. The torrent acquisition of Gujarat Titans has been in the pipeline for almost two years, but it has not happened on paper, as there is a three-year compulsory lock-in clause for the IPL franchise.
According to BCCI rules, management cannot change in the first three years of contract with a franchise. The CVC bought a franchise in February 2022 and can be confirmed that the lock-in period ended on Monday (February 10). Representatives of both companies have confirmed the development to Cricbuzz. The Torrent Titans will buy a control stake and it is believed that the evaluation has increased by more than 50 percent. The correct price of the deal and the transfer being transferred are not being disclosed, but it is believed that the torrent will buy more than 60 percent stake in the team.

Torrent participated in the bidding process for a new IPL team in 2022, but failed. When the BCCI auctioned two teams Ahmedabad and Lucknow, Torrent bid for Rs 4653 crore. Eventually the CVC Group won the team by bidding a bid of Rs 5625 crore. At that time, the favorite Adani Group had bid for Rs 5100 crore to get a franchise. However, she could not even reach around the CVC group.

On the other hand, Titans have done well since the beginning. She won the title in her first year in 2022 and reached the final in 2023. It is believed that its price is Rs 7800 crore. The Lucknow franchise, which was bought by Sanjeev Goenka at the same time, was sold for Rs 7090 crore, which established a benchmark to evaluate an IPL team.

Talking about the captaincy of the team, it is with Shubman Gill, while Hardik Pandaya was the captain before returning to Mumbai Indians. The coaching staff of Ashish Nehra-Vikram Solanki pair will remain at least till the upcoming session. Any change can be expected only after the IPL session.