Gujarat Titans for sale..!?  Two companies in the race!?

It seems that the share of gujarat Titans, who have won five of the 14 matches played in the 2024 season and finished eighth with 12 points, has come up for sale. To this extent, CVC Capitals is in talks with its partners adani Group and Torrent Group, The economics Times reported. Current owner CVC capital Partners is planning to sell the share in gujarat Titans to adani or Torrent Group. The media company revealed that they have received information to this effect that CVC intends to keep only the minority holdings and is ready for that.
 In fact, the lock-in period imposed by cricket in india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>the board of control for cricket in india (BCCI), which prevents the sale of shares in new teams, ends in february next year. The value of the three-year franchise is said to be between one billion dollars and one and a half billion dollars. While CVC bought this franchise in 2021 for Rs. 5,625 crores. Experts say that adani and Torrent lost the opportunity to own the ahmedabad franchise in IPL in 2021. In this context, they are interested in buying the majority stake in gujarat Titans. This is a good opportunity for CVC to monetize its stake in the franchise! On the other hand, adani has already invested in cricket by buying the Women's Premier League (WPL) and UAE-based international League t20 teams. As part of this, WPL secured the ahmedabad franchise in 2023 with a top bid of Rs.1,289 crores! It is said that there are opportunities to get GT in this background!
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Sowmiya Sriram

19/07/2024 05:45 PM