Mukesh Ambani vs Gautam Adani: Adani plans to compete with Ambani in cricket, know inside story here

The cricketing world might soon witness a high-profile showdown between India’s top billionaires, Mukesh Ambani and Gautam Adani. The spotlight is on the Gujarat Titans, an IPL franchise currently under the ownership of CVC Capital Partners, composed to sell a majority share in the team. CVC, headquartered in Luxembourg, is negotiating with the Adani Group and the Torrent Group, considering unloading a substantial portion of its stake while retaining a minor share.

The critical sale decision is influenced by the Board of Control for Cricket in India's (BCCI) lock-in period, set to end in February 2025. After this period, the sale of new team stakes becomes permissible. Reliance Group, owned by Mukesh Ambani, already has a significant presence in the IPL with the Mumbai Indians. Meanwhile, the Gujarat Titans, acquired by CVC for ₹5,625 crore in 2021, is now valued between $1 billion and $1.5 billion. This valuation growth is partly due to the IPL’s overall market worth, estimated at $16.4 billion following a $6 billion media rights deal struck in 2022 with Disney Star and Viacom18.

Adani Group, which had previously missed out on acquiring the Ahmedabad franchise in 2021, is now in wild competition with Torrent Group for a major stake in the Gujarat Titans. The intense bidding underscores the growing interest in IPL franchises, reflecting the league’s solid financial returns and attractive investment potential. In 2023, Adani made headlines by purchasing the Ahmedabad franchise in the Women's Premier League (WPL) for ₹1,289 crore, and also invested in the UAE’s International League T20.

CVC Capital, known for managing assets worth ₹193 billion and investing in various sports leagues like La Liga and the Women’s Tennis Association, sees the sale of Gujarat Titans as a strategic move. Despite Gujarat Titans’ strong performance, having clinched the IPL title in their inaugural season, the franchise reported a net loss of ₹429 crore on a revenue of ₹359 crore for the fiscal year ending March 2023.

The Gujarat Titans are anticipated to turn profitable by the next media rights cycle, ending in 2027. The franchise's COO, Arvinder Singh, remains optimistic about its growth and profitability, stating that profitability for IPL teams typically takes several years. Currently, the Gujarat Titans are valued at $124 million, ranking eighth in brand value, while the Chennai Super Kings lead with a brand value of $231 million.

As the race for the Gujarat Titans heats up, the outcome will not only shape the franchise's future but also reflect the growing influence and rivalry among India's wealthiest business magnates in the cricket world.