Delhi Capitals Co-owners GMR Aquire Majority Stake In Hampshire
ECB Chief Executive Officer: GMR Group, an Indian conglomerate who are co-owners of IPL franchise Delhi Capitals, have completed the takeover of a majority stake in the Hampshire County cricket team.
The GMR Group 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.
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The move makes Hampshire the first side in county cricket to be owned by an overseas entity, and will be interesting to see if the process will involve GMR Group acquiring a 51 per cent majority share in The Hundred side Southern Brave.
The deal will see the group furthering the development of Hampshire cricket teams and pathways, as well as enhancing the multi-sports and leisure facilities at the Utilita Bowl, including the stadium, hotel, and golf course.
“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 Kiran Kumar Grandhi, Corporate Chairman, GMR Group.
The group holds a 50% stake in the Delhi Capitals (IPL and WPL), Dubai Capitals (ILT20), Pretoria Capitals (SA20), and Seattle Orcas team in Major League Cricket, USA. Under the new ownership structure, Hampshire’s existing leadership team will remain in place.
Rod Bransgrove will continue as Group Chairman until at least September 30, 2026, and David Mann will retain his role as Group CEO. The duo will work with GMR Group to develop short, medium, and long-term strategies for the consistent growth of the club and its operations.
"This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters. Beyond our team’s accomplishments on the field over the past 24 years, we have transformed our stadium into a premier Test Match and events venue and one of the most exceptional cricket and leisure facilities in the country.
"We have also been pioneers in the development of women’s cricket and have consistently innovated throughout this relatively short history. After a thorough selection process, we chose GGPL as our partners due to their shared values and commitment to our vision.
"We believe GGPL is the perfect organization, with the right people, to build on our proud legacy. 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," said Bransgrove in a statement.
The Utilita Bowl hosted its maiden Test match in 2011, and was the ideal location for ECB hosting matches in a bio-secure environment during the Covid-19 pandemic in 2020. It also hosted the inaugural World Test Championship final between New Zealand and India under the pandemic restrictions.
"This is an exciting time for Hampshire Cricket, and I’d like to welcome GGPL to cricket in England and Wales. I am pleased to see their 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.
"This announcement also demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket. I’d like to thank Rod Bransgrove for all he has done in transforming Hampshire and creating a world-class stadium, and look forward to continuing to work together in his role as Group Chair."
"This is an exciting time for Hampshire Cricket, and I’d like to welcome GGPL to cricket in England and Wales. I am pleased to see their 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.
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Article Source: IANS
