Will the IPL franchise Gujarat Titans have new owners? That seems to be on the cards, with owners CVC Capital reportedly in talks with Adani and Torrent groups for selling a majority stake in the Indian Premier League (IPL) outfit. Gujarat Titans have been in the IPL for just three seasons now, having made their debut in 2022 and winning the title under the leadership of Hardik Pandya. Pandya guided them to the final in 2023, which they lost to Chennai Super Kings. Later on, Pandya's sensational move to Mumbai Indians led the franchise to appoint Shubman Gill as their new captain before the start of the 2024 edition. 'Gautam Gambhir Ne Khatam Kia' Amit Mishra Claims It Was India’s New Head Coach Who Ended Feud With Virat Kohli During IPL 2024 (Watch Video).

According to a report in The Economic Times, CVC Capital, the current owners, who are a private equity firm, want to hold on to a minority stake while transferring most of the ownership to the new owners. The report also adds that the franchise's valuation could be around $1 billion and $1.5 billion. Irelia Sports, owned by CVC Capital, had earlier fended off interest from other bidders, which included Adani and Torrent groups, to acquire the franchise for a sum of Rs 5,625 crore in 2021. For the uninitiated, the Adani group already owns teams in the Women's Premier League (WPL) and UAE's ILT20-Gujarat Giants and Gulf Giants, respectively. Naveen-ul-Haq Makes Major Revelation About His Relationship With Virat Kohli After Ugly Verbal Spat With Indian Batter During IPL 2023 (Watch Video).

If they acquire the Gujarat Titans outfit, they can have the Ahmedabad-based teams both in the IPL and WPL. The report further quoted an official who is in the knowhow of things as saying, "Having missed out on the opportunity to own IPL's Ahmedabad franchise in 2021, both Adani and Torrent are now eager to buy a majority stake in Gujarat Titans. For CVC, it is a good opportunity to monetise its stake in the franchise." In terms of brand value, Gujarat Titans are eighth on the list at $124 million, according to US Investment Bank Houlihan Lokey.

(The above story first appeared on LatestLY on Jul 19, 2024 04:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).