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September 30, 2024
Hampshire Cricket Club, a well-known English County cricket team, has decided to sell a large part of the club to GMR Group, which also owns a popular Indian cricket team called the Delhi Capitals. This is a critical moment because it is the first time an English team has been bought by an overseas cricket team.
The people in charge at Hampshire, like the chairman Rod Bransgrove, are pleased about this deal. They believe that GMR Group is a great partner for their club because they share similar ideas and goals. The new owners will buy a big part of the club and then slowly buy the rest over the next two years.
This new partnership is exciting because it brings together two big names in cricket: Hampshire from England and GMR Group from India. They can share their knowledge and skills to help both teams play better and grow stronger.
GMR Group is also interested in buying another English team, Southern Brave, which plays in a cricket tournament called The Hundred. This shows that GMR Group wants to be a major player in cricket worldwide.
This new deal between Hampshire and GMR Group is significant for cricket. It shows that teams from different countries can work together and learn from each other. It is a big step for cricket and can lead to more partnerships and chances for people who love the sport.
Vitality County Championship runners-up Hampshire have entered into a “phased acquisition” with the part-owners of Indian Premier League (IPL) side Delhi Capitals.
Hampshire Cricket Club has reached a meaningful agreement with GMR Global Pte Ltd (GGPL), a subsidiary of Indian conglomerate GMR Group, marking a groundbreaking strategic partnership. This agreement makes Hampshire the first county cricket club in England to be owned by an overseas franchise. The deal outlines a phased acquisition process, with GMR Group expected to complete a total takeover within two years.
The move follows Hampshire majority shareholder Rod Bransgrove’s resignation as chair last year. In January, reports surfaced about “detailed negotiations” with potential new investors, which have materialized in this significant partnership with GMR Group.
This historic agreement paves the way for a new era in English-county cricket, opening doors to international investments and strategic partnerships. GMR Group, co-owners of the Indian Premier League (IPL) franchise Delhi Capitals, brings a wealth of experience and resources to the table, likely boosting Hampshire’s performance and infrastructure in the future.
As the first county cricket club to be acquired by an overseas franchise, Hampshire is at the forefront of a potential shift in the sport’s landscape. Fans, players, and stakeholders eagerly await the impact of this groundbreaking partnership, which may inspire similar collaborations in the world of cricket.
The agreement between Hampshire Sport & Leisure Holdings Limited (HSLHL) and GMR Global Pte Ltd (GGPL) will revolutionize Hampshire Cricket’s future and positively impact HSLHL’s financial health. As part of the deal, the debt associated with HSLHL, which currently owns Hampshire Cricket and the Utilita Bowl, will be significantly reduced.
This debt reduction is a strategic move to foster long-term growth and financial sustainability for Hampshire Cricket and its associated entities. The club can redirect resources towards enhancing its performance, infrastructure, and facilities by alleviating the financial burden.
Moreover, this agreement opens doors to new opportunities as the club embraces the globalization of the sport, setting a precedent for similar partnerships within the cricket world.
GGPL will provide “a material injection of capital to reduce the leveraging of the Hampshire Sport & Leisure Holdings Group”.
A club statement added: “GGPL has committed to furthering the development of Hampshire‘s 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.
“GGPL also emphasises the importance of respecting the traditions and culture of the game in England and Wales.”
Bransgrove and CEO David Mann will work with GGPL “to develop short, medium, and long-term strategies for the consistent growth of the club and its operations”.
Bransgrove said: “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 organisation, 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.”
In addition to its involvement in the Hampshire Cricket Club, GMR Group boasts an impressive global sports portfolio. The group owns a 50% stake in the Delhi Capitals, which participates in the Indian Premier League (IPL) and the Women’s Premier League. Further expanding its reach, GMR Group has invested in the Dubai Capitals, a team competing in the International League T20, and the Pretoria Capitals, a South African T20 side participating in the SA20 league. Additionally, GMR Group has ventured into the US cricket scene, investing in the Major League Cricket team, the Seattle Orcas.
This diverse range of investments demonstrates GMR Group’s commitment to the growth and development of cricket worldwide. The group’s extensive experience and success in managing various sports teams across different countries will undoubtedly contribute to Hampshire Cricket Club’s future achievements and overall success.
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