Now there is going to be a direct competition between the country’s two richest people Mukesh Ambani and Gautam Adani on the IPL pitch. In fact, Adani Group chairman and leading industrialist Gautam Adani is now preparing to enter the IPL. If the news is to be believed, he can soon buy a stake in the IPL franchise Gujarat Titans.
Preparation to buy Gujarat Titans
According to an ET report, private equity firm CVC Capital Partners is preparing to sell its stake in the IPL franchise Gujarat Titans. For this, it is in talks with the Adani Group. If the Adani Group is successful in buying the stake, then it will face Reliance Industries chief Mukesh Ambani on the cricket pitch. Mukesh Ambani already has the Mumbai Indians franchise in the IPL.
Adani Group to compete with Torrent
According to the report, CVC Capital Partners is in talks with the Adani Group and Torrent Group to sell its controlling stake in the IPL franchise Gujarat Titans. That is, CVC Capital wants to sell the majority stake in the franchise and wants to keep some stake with itself. According to the report, the provision of BCCI’s lock-in period also now allows selling stake in the franchise. According to the lock-in period, stake in any new team cannot be sold for some time. For Gujarat Titans, it will end in February 2025.
This can be the value of the franchise
Gujarat Titans is one of the newest franchises of IPL. The value of this three-year-old franchise can be between Rs 8 thousand to Rs 12 thousand crore. CVC Capital bought this IPL franchise in the year 2021 for Rs 5,625 crore. Adani Group had also tried to buy IPL’s Ahmedabad franchise at that time. Adani Group had then bid Rs 5,100 crore. However, the Adani Group has not yet made any official statement regarding the ongoing talks regarding the possible deal.
Adani Group already has this team
Adani Group is already present in the sports segment, especially cricket. Adani Group has teams in the Women’s Premier League and UAE-based International League T20. Adani Group had bought the Ahmedabad franchise of the Women’s Premier League by placing the highest bid of Rs 1,289 crore. Now if the Adani Group’s deal is finalized with CVC Capital, then in the next season of IPL, the clash between Adani and Ambani can also be seen on the cricket field.
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