Ahmedabad25 minutes agoAuthor: Devendra Bhatnagar
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The Gujarat Titans became the champion in its first season i.e. 2022 of the IPL.
We were also in the race to buy the Gujarat Titans franchise in 2021. 4,653 crores Was bid but missed it then. This time there has been a friendly deal between the CVC Group and the Torrent. The official deal will be signed as soon as the lock in period is over in February. ‘This is the statement of a senior officer of Torrent Group. Which confirms that the new boss of the Gujarat franchise of the three -year -old IPL will now be the company of Gujarat. Ahmedabad’s Torrent Group and CVC Capital Partner have reached an agreement to takeover the IPL franchise Gujarat Titans. The deal between senior officials of both groups is currently as ‘Friendly Shakehand’. Because the lock in period of the Titans is currently going on. According to BCCI rules, no group can sell their franchisees during the lock in period.
Torrent can only buy 60% stake instead of 100% Sources associated with both groups say that instead of selling the entire holding of the CVC group franchise, the controlling stack is selling to the Torrent Group, so the Torrent Group will buy a 60% stake. In 2021, the CVC Group has Rs 5,625 crore. Had bought Let me tell you, Adani Group was also involved in the race to buy this franchise.
In 2021, Adani Group also bid for 5,100 crores for this. But then the Baji CVC Group was killed. The 18th season of the IPL will start from March 21 and the final will be played on 25 May. A total of 74 matches will be played this season.
Torrent to buy Gujarat Titans … This period will end in this month i.e. February in mid -February. According to Torrent sources, this deal will be done by 15 February. How much the deal is done, it has been kept secret. But it is estimated that it can range from 6100 crores to 7800 crores.
Why CVC is selling stake Luxembourg’s CVC group is running a strategy on the pattern of the stock market. That is, if the profit is made, then book the profit and get out.
In 2021, 2 were bid for 2 new teams In the year 2021, a bid was installed in Dubai to add two new teams to the IPL. It had 6 cities in the race. Apart from Ahmedabad and Lucknow, the names of Cuttack, Guwahati, Indore and Dharamshala were included. A total of 22 business houses had shown interest to buy two teams. These included Adani Group, English Football Club Manchester United owner Glezer Family, Torrent Pharma, Aurobindo Pharma, RP-Sivaja Goenka Group, Hindustan Times Media Group, former MP Naveen Jindal’s Jindal Steel, Ronnie Screwvala and three private equity people. .
RP-Sanjeev Goenka Group bought Lucknow team for Rs 7,090 crore. At the same time, CVC Capital bought Ahmedabad team for Rs 5,166 crore.
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