IPL 2025: Gujarat Titans' sale takes a turn; Gautam Adani withdraws, Torrent Group steps in

India’s richest man, Gautam Adani, and the Adani Group have pulled out of the race to buy the Indian Premier League (IPL) franchise Gujarat Titans. As per the reports in the Economic Times, it is learned that the Ahmedabad-based Torrent Group will be purchasing a major stake in the team.

This comes after the original owners of the Gujarat Titans, CVC Capitals, decided to sell the major stake of the franchise in the league. Since then, there have been a lot of business ventures that have expressed their interest in buying a stake in the franchise, with Adani Group being the top in the race.

It was also certain that the Adani Group would purchase the Titans. But India's richest man has decided not to acquire the team. It is learned that they backed out due to the high price tag along with the organisation looking to shift their focus on their core businesses which include power and ports.

Virtual agreement has taken place between CVC Capitals and Torrent Group for Gujarat Titans

With Adani Group pulling out in the race to buy Titans, it is learned that Torrent Group has sealed the deal. They have already made a verbal agreement with the current owners, CVC Capital Partners, in a deal valued at over 1 billion USD (8390 crores in INR).

The source close to the development confirmed the same and stated that the deal would be signed after the lock-in period ends. He stated:

“Torrent and CVC have a gentleman’s agreement in place for the Gujarat Titans since a formal deal can only be signed after the lock-in period ends."

The lock-in period will end in February 2025, and only after that will Torrent Group be taking charge of the Gujarat Titans. They will have the major share in the franchise, while the current owners, CVC Capital Partners, would still have significant minority shares as well.

Gujarat Titans will have to acquire clearance from the Board of Control for Cricket in India (BCCI) to ensure that the deal is finalized. The Torrent Group were earlier interested as well in buying the franchise in the league but they couldn't deal the deal.

In 2021, Torrent Group, along with Adani Group, both bid to acquire the rights of the franchise before their debut in 2022. Both bid INR 4653 crores and 5100 crores, respectively. But CVC Capital partners had the biggest bid of INR 5625 crores and brought the franchise.

Ahmedabad-based Torrent Group, notably, is one of the biggest ventures that specializes in the power and pharma industries, with a market capitalization of INR 2 lakh crores. Ahead of the 2021 auction, for the franchise rights, they had also set up the Torrent Sports Ventures as well.

Gujarat Titans are one of the most successful franchises in the league. They made their debut in 2022 and won the title in the first year itself. After that in the next season, they reached the final before failing to make it into the playoffs in the 2024 edition of the league