CVC seeks BCCI permission to sell majority stake to Torrent in GT

CVC seeks BCCI permission to sell majority stake in GT to Torrent

• Torrent, an Ahmedabad-based Pharmaceuticals company, is set to buy a majority stake in Gujarat Titans (GT), the Indian Premier League (IPL) franchise.
• CVC Capital, the current controlling firm, has requested permission from the BCCI for the sale.
• The deal has been in the works for nearly two years, but the mandatory three-year lock-in clause for IPL franchises has delayed the process.
• CVC bought the franchise in February 2022, and the lock-in period ended on February 10, 2025.
• Torrent will acquire a controlling stake, with the valuation reportedly increasing by over 50%. The exact price and stake details are undisclosed, but Torrent will buy more than 60% of the team.
• Torrent previously participated in the 2022 IPL team bidding process, placing a bid of Rs 4653 crore, but lost to CVC's Rs 5625 crore bid.
• GT's success in its first two seasons has increased its value to approximately Rs 7800 crores.
• The change in ownership is not expected to significantly affect the management or coaching staff in the immediate future.
• GT will continue to be led by Shubman Gill, and the Ashish Nehra-Vikram Solanki coaching duo will remain for at least the upcoming season.