GMR buys Hampshire county cricket team

GMR group, which owns Indian Premier League (IPL) franchise Delhi Capitals, has acquired English county cricket team Hampshire, a statement said.

Hampshire will become the first English county to be owned by an overseas franchise, the club said on Monday.

Under the deal, GMR group firm GMR Global Pte Ltd (GGPL) has agreed to a “phased acquisition” of Hampshire Sport and Leisure Holdings Ltd, “along with an initial reduction” of its debt.

GGPL will initially acquire a majority stake in Hampshire Sport, before completing 100% acquisition in the next 24 months.

The terms of the deal were agreed upon by the parties a year ago, “with the enterprise value set at a fair market valuation,” a statement said.

The total deal value is pegged at £43 million (Rs483 crore), with GMR initially buying a 53% stake, along with performance-linked incentives, and later acquire the balance 47% over a two-year period, The Economic Times reported, citing people aware of the developments.

“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 in 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,” Rod Bransgrove, chairman of Hampshire Sport said in a statement.

“After a thorough selection process, we chose GGPL as our partners due to their shared values and commitment to our vision. 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,” he added.

GGPL is part of the GMR Group, an Indian conglomerate founded in 1978 and headquartered in New Delhi with a global presence. The group operates across sectors, including infrastructure, airports, power, and sports.

The acquisition is designed to strengthen the financial position of Hampshire Sport and will include a material injection of capital, the statement said.

“What initially attracted me to Hampshire was the way it was run by Bransgrove, whose leadership ethos closely mirrors that of the GMR Group. I believe GGPL is in the best position to carry Rod’s legacy forward and continue building on the strong foundation he has established,” Grandhi Kiran Kumar, corporate chairman of GMR Group, said.

“With this acquisition, along with our investments in the US, Dubai, and India, GMR is focused on engaging and connecting with the global youth. 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,” he added.

Under the new ownership structure, Bransgrove will continue as group chairman until at least 30 September 2026, and David Mann will retain his role as group CEO.

Established in 2008, the sports business of GMR launched the Delhi Daredevils, the first IPL franchise from India’s capital. Currently, it holds a 50% stake in the Delhi Capitals, the Dubai Capitals (International League T20) and the Pretoria Capitals (SA20).

The sports division has expanded its portfolio to include franchises in the Pro Kabaddi League and Ultimate Kho Kho League. Additionally, it has invested in the Seattle Orcas team in Major League Cricket, USA.

“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,” Richard Gould, chief executive officer at England and Wales Cricket Board, said.