The Gujarat Titans IPL franchise is reportedly on the verge of a significant ownership change. A prominent Ahmedabad-based pharmaceutical company is poised to acquire a majority stake in the team from its current owners, a private equity firm. Formal requests for the necessary approvals have been submitted to the governing body of Indian cricket.
This potential takeover has been in discussion for some time, but was reportedly delayed due to contractual obligations. Regulations require a three-year lock-in period before a franchise’s ownership can change hands. With that period now elapsed, the deal appears to be moving forward.
While the specifics of the agreement, including the exact price and percentage of stake being transferred, remain undisclosed, it is understood that the pharmaceutical company will acquire a controlling interest, exceeding 60% of the team. The franchise’s valuation is also believed to have significantly increased, reportedly by over 50%, since its initial purchase.
This isn’t the pharmaceutical company’s first foray into IPL team ownership. They previously participated in the bidding process for new IPL franchises in 2022, but were unsuccessful. The current owners ultimately secured the Ahmedabad-based team at that time.
The Gujarat Titans have enjoyed considerable success on the field since their inception, winning the IPL title in their debut season and reaching the final the following year. This success has likely contributed to the team’s increased valuation.
Despite the change in ownership, significant alterations to the team’s management are not anticipated immediately. The current captain is expected to continue leading the team, and the coaching staff is also likely to remain in place, at least for the upcoming season. Any further changes to the team’s setup are expected to occur after the IPL season concludes.
