DC co-owners GMR acquire Hampshire county

GMR Group, co-owners of Delhi Capitals side in the Indian Premier League (IPL), has acquired Hampshire Cricket, marking a historic milestone in the world of cricket. This is the first instance of a county cricket team being acquired by an international company, setting a new precedent in the sport.

The group, owned by Kiran Kumar Granthi, has entered into an agreement to acquire 100 per cent stake of Hampshire Sport & Leisure Holdings Limited (HSLHL), the parent company of Hampshire Cricket. The group said the acquisition will be completed in phases over the next 24 months.

Hampshire Cricket, founded in 1863, is one of 18 First-class counties associated with the England and Wales Cricket Board (ECB). The acquisition, however, will not have an immediate impact on ECB's proposed plan to privatise The Hundred. However, with GMR having the controlling stake, Hampshire's Southern Brave team in The Hundred will also come under the control of the Indian firm.

The deal is worth 45 million pounds for 100 per cent (about Rs 450-500 crore). GMR is buying 53 percent for 23 million pounds (between Rs 230-300 crore) right now and the remaining 47 per cent over the next two years. There are apparently a few incentives involved in that and will be subject to Hampshire honouring the promised deliverables.

The Hampshire ground, Utilita Bowl, previously Rose Bowl, will now belong to GMR as will the massive golf course adjacent to it. The Hilton Hotel, which is on one side of the ground, will also be owned by the Indian company but the biggest gain would be the land that shall come into GMR's possession. Over the years, the value of this land will only grow, as seen in the real estate business. The principal terms and conditions of this agreement were formally agreed upon by the parties a year ago, with the enterprise value set at a fair market valuation, according to a statement.

Hampshire's existing leadership team will remain in place. Rod Bransgrove will continue as Group Chairman until at least September 2026, and David Mann will retain his role as Group CEO. Together, they will work with GMR to develop short, medium, and long-term strategies for the consistent growth of the club and its operations.

"We are thrilled to welcome Hampshire Cricket into the GMR family. This acquisition is a testament to our commitment to global sports and our belief in the power of cricket to unite people. We look forward to working with the Hampshire team to create a sustainable and successful future for the club," Granthi said.

Bransgrove termed the deal as fulfilment of a dream. "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 our relatively short history."