Delhi Capitals¡¯ owner finalises ?43 million deal to acquire Hampshire Cricket team
GMR Group, owner of Delhi Capitals, has acquired Hampshire Cricket and Utilita Bowl stadium through a ?43 million deal, marking the first overseas acquisition of a county cricket team. GMR will initially buy a 53% stake, with plans to acquire the remainder within two years. The deal also includes potential future investment in the Southern Brave franchise of The Hundred.
In a significant move for English cricket, GMR Group, owner of Delhi Capitals, has struck a major deal to acquire Hampshire Sport & Leisure Holdings Ltd (HSLHL), which owns Hampshire Cricket and the Utilita Bowl stadium. The acquisition, valued at ?43 million (Rs 483 crore), is the first time a county cricket club has been bought by an overseas company, making it a landmark agreement.
GMR to take control of majority stake in Hampshire team
According to sources familiar with the deal, GMR will initially purchase a 53% stake in HSLHL, with performance-linked incentives attached. Over the next two years, the company plans to acquire the remaining 47%. While the financial details haven¡¯t been officially revealed, insiders estimate the deal to be worth around ?43 million.
This acquisition stands out in the sports industry as it includes significant infrastructure, such as the Utilita Bowl, which houses a cricket stadium, a hotel complex, and a golf course. GMR Group, known for its expertise in infrastructure, intends to develop these assets under a new masterplan.
The deal was executed through GMR Global Pte Ltd (GGPL), a subsidiary of GMR Group focused on investing in global sports assets. By acquiring HSLHL, GMR aims to help reduce its debt and foster long-term financial growth for the company.
GMR's cricket portfolio is already extensive, with ownership of teams in the IPL (Delhi Capitals), Women's Premier League, Dubai Capitals (ILT20), and Pretoria Capitals (SA20). The group also holds investments in Major League Cricket¡¯s Seattle Orcas.
GMR eyes potential Southern Brave stake in The Hundred
GMR is reportedly open to acquiring a majority stake in Southern Brave, one of the franchises in The Hundred. This possibility comes as the England Cricket Board seeks Indian investors, particularly those already engaged in the IPL, to invest in The Hundred teams.
As per ESPNcricinfo, GMR¡¯s acquisition of HSLHL is part of a larger deal, estimated at around ?120 million, which also includes operating debt. GMR is expected to pay for the remaining shares over time, with incentives based on performance metrics.
Rod Bransgrove, founder of HSLHL, will remain Group Chairman until September 2026, and David Mann will continue as Group CEO. Bransgrove expressed excitement about partnering with GGPL, stating, "We believe GGPL is the perfect organisation, with the right people, to build on our proud legacy."
Grandhi Kirankumar, GMR Group¡¯s corporate chairman, affirmed that GGPL is well-positioned to carry forward Bransgrove¡¯s legacy while expanding GMR¡¯s global cricket presence.
(With inputs from IANS)
For more news and current affairs from around the world, please visit Indiatimes News.
Kumar Debvrat is a copyeditor at Indiatimes, combining trending topics in India with unique human-interest stories. He has a keen eye for detail and a passion for storytelling, enjoying both cricket and comic book movies.
Read More
