DK Business News
In a significant transaction within the Indian Premier League (IPL) ecosystem, Anagram Partners has provided legal counsel to CVC Capital Partners in the sale of a 67% majority stake in the Gujarat Titans franchise to Ahmedabad-based Torrent Group. The deal, valued at approximately ₹5,000 crore, marks Torrent Group’s strategic entry into India’s burgeoning sports sector.
CVC Capital Partners, a prominent global private equity firm, initially acquired the Gujarat Titans in 2021 for ₹5,625 crore. Under CVC’s stewardship, the franchise achieved remarkable success, clinching the IPL championship in their debut season in 2022 and securing a runner-up position in 2023. Despite a less favorable performance in 2024, finishing eighth, the team’s overall trajectory has been commendable.
The recent agreement entails Torrent Group acquiring a 67% stake in the franchise, with CVC retaining a 33% minority interest. This acquisition is poised to bolster Torrent Group’s portfolio, which traditionally encompasses healthcare and energy sectors, by adding a dynamic sports entity. The transaction is pending customary closing conditions and requisite approvals, including from the Board of Control for Cricket in India (BCCI).
Anagram Partners, a distinguished law firm, has a history of advising CVC Capital Partners, notably during CVC’s initial acquisition of the Gujarat Titans in 2021. Their continued legal support underscores a robust professional relationship and highlights Anagram Partners’ expertise in managing high-profile sports franchise transactions.
This transaction signifies a pivotal moment in the IPL landscape, reflecting the growing commercial appeal of cricket franchises to diverse business conglomerates. Torrent Group’s foray into the sports sector through this acquisition underscores the increasing convergence of traditional industries with the dynamic world of sports entertainment.