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Meet The Owner Of Gujarat Titans (GT): Check Out Net Worth And More

Despite being newcomers, the Gujarat Titans exceeded all expectations by clinching the 2022 IPL title, instantly gaining immense popularity and a massive fan following. But who owns the Gujarat Titans? Let's find out more:

IT Worth Desk Updated on May 13, 2024, 16:54 IST

Who Owns Gujarat Titans?: The Indian Premier League (IPL) is a widely celebrated cricket championship that draws millions of viewers globally. Known for its thrilling short-form T20 matches, the IPL is not only highly entertaining but also one of the most profitable sports leagues worldwide.

Owning a sports team, especially in a high-profile league like the IPL, involves a multitude of responsibilities and decisions. Owners play a crucial role in various aspects of the franchise's operations, including recruiting players, hiring coaching staff and support personnel, managing budgets and investments, devising auction strategies, and handling media interactions.

The owners' involvement is pivotal in ensuring the smooth functioning of the franchise and making key decisions that impact the team's performance and reputation. Just like in any other organization, major decisions typically require the approval or input of the team owners.

Owning an IPL team comes with significant challenges and responsibilities, as it not only involves managing internal and external affairs but also maintaining a positive global reputation. While there have been changes in ownership over the years since the IPL's inception in 2008, some owners have remained consistent and continue to lead their teams in the lucrative league.

Representatives of CVC Capital Partners

With ten teams representing different cities or states of India including Chennai Super Kings, Delhi Capitals, Mumbai Indians, Kolkata Knight Riders, Lucknow Super Giants, Punjab Kings, Sunrisers Hyderabad, Royal Challengers Bengaluru, And Rajasthan Royals, fans passionately support their favourite teams throughout the tournament. The 2022 IPL marked the debut of a new franchise, the Gujarat Titans, hailing from the state of Gujarat. Despite being newcomers, the Gujarat Titans exceeded all expectations by clinching the 2022 IPL title, instantly gaining immense popularity and a massive fan following. But who owns the Gujarat Titans? Let's find out more:

Gujarat Titans

The Gujarat Titans, a new franchise in the Indian Premier League, is based in Ahmedabad, Gujarat, India. Making their debut in the 2022 IPL season, the GT team surprised everyone by winning their maiden IPL tournament. Initially Led by former Mumbai Indians star and explosive all-rounder Hardik Pandya, the team also reached the final of IPL 2023 and topped the points table. In IPL 2024, Gujarat Titans led by Shubman Gill and as of today May 13 at the eighth position on IPL 2024 point tables.

In 2021, GT was among the franchises put up for auction, attracting bids from various companies. Ultimately, CVC Capital Partners secured the rights with a bid of Rs 5,625 crores (US$700 million).

As of 2022, the Gujarat Titans are ranked as the tenth most valuable IPL team, with an estimated value of $850 million. With their rapid ascent and impressive IPL performances, their value is expected to continue increasing.

Who is the Gujarat Titans (GT) Owner?

Steve Koltes, Donald Mackenzie, and Rolly van Rappard, as representatives of CVC Capital Partners, successfully bid for the Gujarat Titans franchise at the mentioned value. However, they were merely acting on behalf of the CVC group during the bidding process. Despite their involvement, the ownership of the GT team ultimately rests with the company itself. With nearly 700 employees spread across offices in Asia, Europe, and North America, the company has established a strong presence worldwide.

Also Read:?List Of Richest IPL Teams And Their Owners

CVC Capital Partners' history

CVC Capital Partners is a French private equity and investment firm headquartered in Luxembourg. Established in 1981 by Donald Mackenzie, Jiri Zrust, Rolly van Rappard, and Steve Koltes, the firm has become a prominent player in the global investment landscape.

CVC Capital Partners has been operating in Asia since 1999, managing funds for over 500 prestigious clients worldwide, and conducting over 80 acquisitions in the region. Globally, the company manages $198 billion in assets under management (AUM) across seven investment strategies, including CVC Europe/Americas, CVC Asia, strategic opportunities, growth, secondaries, credit, and infrastructure.

The funds managed or advised by CVC are invested in over 125 companies worldwide, collectively generating approximately 166 billion euros in annual sales. This extensive portfolio underscores CVC's significant presence and influence in the global investment landscape.

In addition to its ventures in various sectors, CVC has investments in multiple sports leagues, including the Rugby Union League of England and the United Rugby Championship. Notably, the firm held a majority stake in Formula 1 for a decade. However, its management approach drew criticism for prioritizing profits over the sport's development.

CVC Capital Partners net worth

CVC Capital Partners traces its roots back to 1981 when it was established as the European operations of Citicorp Venture Capital, the venture capital arm of Citigroup. However, in 1993, Donald Mackenzie, Rolly van Rappard, Steve Koltes, and five other cofounders (who have since departed) acquired the business and rebranded it as CVC Capital Partners. They raised their inaugural $630 million fund in 1996 and shifted their focus to private equity.

Also Read:?Virat Kohli's Net Worth, Salary, Brand Endorsements, Cars And Houses

Since then, CVC has grown significantly and now manages $198 billion in assets under management. With offices in 29 cities across six continents, the firm has become a global player in the investment landscape, as reported in Forbes.

CVC is renowned for its investments in the sports sector, notably its $2 billion leveraged buyout of the Formula 1 racing series in 2006, which it later sold to publicly traded Liberty Media for $8 billion in 2016. Additionally, in 2021, CVC struck a $2.1 billion deal with the Spanish soccer league La Liga, securing an 8.25% share of TV rights over the next 50 years. These high-profile investments have solidified CVC's reputation as a major player in the sports industry.