After the IPL 2022 triumph, GT ended up as the runner-up in IPL 2023. This comes well under the Board of Control for Cricket in India’s (BCCI) lock-in period which restricts new teams from selling a stake post-February next year. CVC Capitals had bought the Ahmedabad-based franchise for a whopping Rs. 5,625 crore and had named it Gujarat Titans back in 2021. The franchise’s current estimated value is anywhere between $1 billion and $1.5 billion. “Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, both Adani and Torrent are now eager to buy a majority stake in Gujarat Titans. For CVC, it is a good opportunity to monetize its stake in the franchise,” an official keeping track of the matter, was quoted as saying by The Economic Times. “IPL franchises have been attracting a lot of investor attention since the league has established itself as an attractive asset with solid cash flows,” another official said. Cash-rich league According to American investment bank Houlihan Lokey, the IPL is valued at $16.4 billion in the current scenario in which a record $6 billion is the courtesy of media rights alone. The BCCI had notably signed a stupendous media rights deal with Disney Star and Viacom18 in 2022. It is noteworthy that both Adani and Torrent are Ahmedabad-based companies, whereas CVC is a Luxembourg-based private company. CVC is also known for its investments in big sporting tournaments like La Liga, Premiership Rugby, and the Women's Tennis Association. The Adani Group possesses a franchise in the Women’s Premier League (WPL) based in Gujarat, named Gujarat Giants, and also a team in the UAE-based International League T20 tournament.