The GMR Group, which co-owns Indian Premier League franchise Delhi Capitals, has reportedly agreed terms to take full ownership of English county club Hampshire.
According to a report in UK’s Daily Telegraph, based on the terms of an agreement that has been passed to the England and Wales Cricket Board (ECB), the Indian multinational conglomerate will not only take full ownership of Hampshire, but will also be taking a 51% majority stake in The Hundred franchise, Southern Brave, with the option of completing a 100% ownership.
It was the UK daily that first reported the possibility of this move by the Delhi Capitals co-owners back in January after rumours emerged that the ECB was exploring opening up 50% stakes in a few Hundred teams, and giving host counties the option to sell their shares.
Former Hampshire chairman Rod Bransgrove, who was in charge of the club for 23 years, stepped down from his position last year but continues to hold more than 60 per cent of the shares. However, with Hampshire being among the three counties, besides Northamptonshire and Durham, that are not member-owned, Bransgrove had the option to sell his stakes “without fan input”.
Per the report, GMR beat out RPSG Group, which owns IPL franchise Lucknow Super Giants with an offer of £120 million, which includes the club’s debts of around £60 million. It appeared, Hampshire’s value went up from £100 million during the process of negotiation, and the high valuation due to their impressive international fixture list and strong ticket sales secured by Bransgrove.
GMR Group currently holds a 50% stake in Delhi Capitals across both the IPL and the Women’s Premier League (WPL). Additionally, they own Dubai Capitals in the UAE’s ILT20 and have a share in the USA’s Major League Cricket side Seattle Orcas.
