Ahmedabad-based Torrent Group has completed the acquisition of a 67% controlling stake in the Indian Premier League (IPL) franchise Gujarat Titans. The majority stake was purchased from Irelia Company Pte Ltd, a private equity fund managed by CVC Capital Partners, which previously held full ownership of the franchise through Irelia Sports India Pvt Ltd.
The Board of Control for Cricket in India (BCCI) has granted all necessary approvals for the transaction.
In an official statement released on Monday, Torrent Group confirmed the successful completion of the acquisition, stating, “With the fulfilment of these conditions, the acquisition has now been successfully completed.”
CVC Capital Partners will retain a 33% minority stake, maintaining its association with Gujarat Titans despite the transfer of majority ownership.
The deal was initially announced by Torrent Group on February 12 and has now been concluded ahead of the upcoming IPL season, which is set to commence on March 22.
Founded in 2022, Gujarat Titans have established themselves as one of the most successful franchises in IPL history, winning the title in their debut season and finishing as runners-up the following year.
The team, led by Shubman Gill and coached by Ashish Nehra, plays its home matches at the Narendra Modi Stadium in Ahmedabad, the world’s largest cricket venue.
Torrent Group expressed its ambition to strengthen the franchise’s operations, fan engagement, and commercial growth. “The Gujarat Titans, one of the youngest and successful franchises in IPL history, will now benefit from Torrent’s extensive expertise in building and managing large-scale businesses,” the company stated.
“With a focus on strengthening team operations, fan engagement, and commercial growth, the acquisition sets the stage for an exciting future for the franchise.”
The acquisition underscores Torrent’s commitment to expanding its business footprint into the growing Indian sports market. With the IPL attracting over 400 million viewers annually and boasting a global following of more than one billion, the league remains one of the most-watched sporting events worldwide.
“With the completion of this transaction, Torrent Group is set to embark on an exciting journey with Gujarat Titans, further strengthening the franchise’s position as a powerhouse in Indian and global cricket,” Torrent Group concluded in its statement.
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