New Delhi: The Hampshire County Cricket Club has been taken over by GMR Group, who are the co-owners of the Indian Premier League (IPL) franchise Delhi Capitals. On Monday, the New Delhi-based multinational conglomerate finalised the deal.
According to a report by BBC Sport, the agreement has been ratified by the England and Wales Cricket Board (ECB), allowing the GMR Group to hold majority stakes in the English county club. Hampshire will become the first county club to be owned by an overseas firm.
According to a report by news agency PTI, the GMR Group will hold 53 percent stake in Hampshire. The Indian firm will acquire the complete 100 percent stake in the span of next two years.
“Hampshire Sport & Leisure Holdings Limited, owner of the Utilita Bowl site and Hampshire Cricket, has signed and exchanged definitive agreements with GMR Global Pte Ltd (GGPL), marking the start of a significant strategic partnership,” the club said in a statement in its website.
“As part of the agreement, GGPL will initially acquire a majority stake in Hampshire Sport & Leisure Holdings Limited, with the completed acquisition of 100% ownership expected within the next 24 months,” the statement added.
Hampshire Sport & Leisure Holdings Limited has signed a definitive acquisition agreement with GMR Global Pte Ltd (GGPL).
The partnership will see new ownership develop Hampshire Cricket & enhance Utilita Bowl.
📰 Full story ➡️ https://t.co/0gdaVBPhSR pic.twitter.com/fO1fJ3Jskd
— Hampshire Cricket (@hantscricket) September 30, 2024
Kiran Kumar Grandhi, who is the corporate chairman of the GMR Group, said their aim will be to build value and provide enough opportunities for young talented players at the Hampshire CCC.
“With this acquisition, along with our investments in the US, Dubai, and India, GMR is focused on engaging and connecting with the global youth. We are committed to financial prudence, value creation, and creating opportunities for young talent.
“Our vision is to transform sports into a platform that unites people and cultures, drives global excellence, and nurtures the creation of future world champions,” said Granthi.
At present, GMR holds a 50 percent stake in the T20 franchises Delhi Capitals (IPL and WPL), the Dubai Capitals (ILT20) and the Pretoria Capitals (SA20). It also owns the UP Yoddhas franchise in the Pro Kabaddi League (PKL) in India.
Hampshire leadership will continue to run the club till 2026
The current leadership group of Hampshire will continue to hold their positions despite GMR Group having major stakes in the new ownership structure. Rod Bransgrove will continue as group chairman at least till September 30, 2026, when the GMR Group will have the complete acquire of the county club. David Mann will stay as the Group CEO.
“This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters. After a thorough selection process, we chose GGPL (the parent company of GMR) as our partners due to their shared values and commitment to our vision,” Bransgrove said in a statement, as reported by PTI.
“Becoming the first English cricket club to join an international cricket group will open exciting new opportunities as we embrace the globalization of this great sport,” he added.
ECB CEO Richard Gould has given his consent to the acquisition.
“This is an exciting time for Hampshire Cricket. I am pleased to see GGPL’s commitment to continuing to develop Hampshire’s cricket teams and pathways and enhance facilities at Utilita Bowl, and their respect for the traditions of the game in this country,” Gould said.
“This announcement also demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket,” he added.
The Hampshire County Cricket Club has been taken over by GMR Group, who are the co-owners of the Indian Premier League (IPL) franchise Delhi Capitals. On Monday, the New Delhi-based multinational conglomerate finalised the deal. Cricket Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
