GT full form: Who is GT IPL team owner?

GT full form: The GT full form is Gujarat Titans and they emerged as the champions of their inaugural season in the Indian Premier League (IPL 2022), marking the first time since 2011 that the league had expanded to 10 teams. The ownership of the Gujarat Titans generated excitement among fans, prompting the Board of Control for Cricket in India (BCCI) to organize an auction in October 2021, inviting global investors to bid for the two franchises. The RPSG Group, who had previously owned the Rising Pune Supergiant, made a massive bid of INR 7,090 crore to acquire the Lucknow franchise. Meanwhile, the Gujarat franchise was secured by the overseas equity firm CVC Capital Partners, who are now the IPL team Gujarat Titans owners.

GT full form: Who is GT IPL team owner?

The GT full form is Gujarat Titans, is one of the newest franchises in the Indian Premier League (IPL) and is owned by the well-known British private equity and investment firm, CVC Capital Partners. With assets worth over $75 billion, CVC Capital Partners is one of the largest investment firms in the world, and it has been expanding its operations in Europe and Asia over the years. The Gujarat Titans’ owners have invested heavily in the team, and their inclusion in the IPL has generated a lot of interest among cricket fans.

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CVC Capital Partners was established in 1981 as a separate entity after Citicorp, the popular banking firm, decided to establish an investment firm. Over the years, CVC Capital Partners has become a leading investment firm in Europe, acquiring several notable companies, including IT security company Avast, luxury watch-maker Breitling SA, British automobile company RAC, and pet supplies retail chain Petco. With its vast resources and expertise, CVC Capital Partners has become a formidable player in the world of business, and its investment in the Gujarat Titans is a testament to its commitment to investing in high-growth markets and sports leagues.

The Board of Control for Cricket in India (BCCI) invited investors to participate in the auction for two new franchises in 2021, and CVC Capital Partners showed great interest in being a part of the Indian Premier League. The British firm made an INR 5,625 crore bid to secure the Ahmedabad franchise and became the Gujarat Titans owners. However, the inclusion of CVC Capital Partners in the IPL was not without its challenges.

One of the significant obstacles CVC Capital Partners faced was the conflict of interest between its portfolio company, Tipico, and the Indian Premier League’s history. Tipico is a world-renowned sports betting and gambling organization and a portfolio company of CVC Capital Partners. This raised concerns about the ethical implications of the investment, and former IPL chairman Lalit Modi pointed out this issue on social media.

The BCCI was quick to respond and asked CVC Capital Partners to provide an explanation. After a thorough investigation, the private equity firm confirmed that Tipico is a part of the European wing of the CVC group and will remain completely independent and disconnected from the Asian wing, which made the investment in the Gujarat Titans. The BCCI deemed their participation valid, and the team was officially announced just a few days before the auction.

The Gujarat Titans’ owners have been working hard to ensure that the team is well-positioned to make a strong impact in the tournament and establish itself as a leading team in the Indian Premier League. With its presence in several countries, CVC Capital Partners can bring a global perspective to the team and provide the resources required to help the team succeed. The inclusion of the Gujarat Titans in the Indian Premier League has created a lot of excitement and anticipation among cricket fans, and it will be interesting to see how the team performs in the coming years.

In the year 2021, the Board of Cricket Control in India (BCCI) announced an opportunity for new teams to join the Indian Premier League (IPL). This received an overwhelming response as 22 teams expressed their interest to participate. However, after a thorough evaluation, only six teams were shortlisted, and out of these, the Irelia Company Pte Ltd, owned by CVC Capital Partners, emerged as the winner. They secured the ownership rights of the Gujarat Titans team by paying a whopping amount of INR 5625 crore, equivalent to $700 million. This victory was significant as CVC Capital Partners beat the well-known Glazer family, the owners of Manchester United, to become the owners of Gujarat Titans. This gives a clear indication of their financial prowess and the level of their commitment towards investing in the sport.

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