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{"id":91706,"date":"2024-09-30T12:43:00","date_gmt":"2024-09-30T12:43:00","guid":{"rendered":"https:\/\/financeworld24.com\/delhi-capitals-owner-buys-majority-stake-in-hampshire-ccc-for-120m\/"},"modified":"2024-09-30T12:43:00","modified_gmt":"2024-09-30T12:43:00","slug":"delhi-capitals-owner-buys-majority-stake-in-hampshire-ccc-for-120m","status":"publish","type":"post","link":"https:\/\/financeworld24.com\/delhi-capitals-owner-buys-majority-stake-in-hampshire-ccc-for-120m\/","title":{"rendered":"Delhi Capitals owner buys majority stake in Hampshire CCC for \u00a3120m"},"content":{"rendered":"
\n
\n

The Indian multinational behind the Indian Premier League\u2019s Delhi Capitals has become the first overseas owner of an English county after taking a majority stake in Hampshire<\/a>.<\/p>\n

The historic \u00a3120m deal, which has been approved by the England and Wales Cricket<\/a> Board, will see GMR Group take an immediate majority stake in Hampshire with the aim of completing a 100% takeover in the next two years.<\/p>\n

<\/p>\n
<\/div>\n

<\/gu-island><\/figure>\n

However, the deal does not include the full purchase of Southern Brave, the Hundred team who play at the Utilita Bowl. While Hampshire have a 51% stake in the franchise, GMR will have to pay what the ECB considers a fair market value for the remaining 49% stake under the governing body\u2019s ongoing sell off.<\/p>\n

\u201cThis is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters,\u201d said Rod Bransgrove, the club\u2019s majority shareholder, who will continue as group chair for at least two years.<\/p>\n

\u201cBecoming the first English cricket club to join an international cricket group will open exciting new opportunities as we embrace the globalisation of this great sport.\u201d<\/p>\n

Hampshire are one of three counties, along with Northamptonshire and Durham, who are not member-owned, leaving Bransgrove free to sell without input from fans.<\/p>\n

The deal also comes with an immediate but undisclosed cash injection to reduce Hampshire\u2019s debt and improve facilities at the stadium, the adjoining hotel and golf course.<\/p>\n

Grandhi Kiran Kumar, corporate chairman of GMR Group, said he was delighted Hampshire had joined a sporting portfolio that includes a 50% stake in the IPL\u2019s Delhi Capitals, the Dubai Capitals in the UEA\u2019s ILT20, and the Seattle Orcas in Major League Cricket.<\/p>\n

\u201cWith this acquisition, along with our investments in the US, Dubai, and India, GMR is focused on engaging and connecting with the global youth,\u201d he said.<\/p>\n

skip past newsletter promotion<\/a><\/p>\n

\u201cWe 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.\u201d<\/p>\n

The move was also welcomed by the ECB\u2019s chief executive officer, Richard Gould. \u201cThis is an exciting time for Hampshire, and I\u2019d like to welcome GGPL to cricket in England and Wales.<\/p>\n

\u201cI am pleased to see their commitment to continuing to develop Hampshire\u2019s cricket teams and pathways and enhance facilities at Utilita Bowl, and their respect for the traditions of the game in this country.\u201d<\/p>\n<\/div>\n<\/div>\n

Source: www.theguardian.com<\/p>\n","protected":false},"excerpt":{"rendered":"

The Indian multinational behind the Indian Premier League\u2019s Delhi Capitals has become the first overseas owner of an English county after taking a majority stake in Hampshire. 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