Hampshire agree ‘dream’ takeover by GMR Group

LONDON: English County Championship club Hampshire have signed a “dream” takeover deal with GMR Group, co-owners of Indian Premier League cricket side Delhi Capitals.

The club have exchanged definitive agreements with GMR as part of a “significant strategic partnership”, making them the first county to be owned by an overseas franchise.

Under the deal, ratified by the England and Wales Cricket Board (ECB), the Indian conglomerate acquires a majority stake and is expected to complete a 100 per cent takeover within two years.

Rod Bransgrove, chairman of Hampshire Sport and Leisure Holdings, said in a statement on Monday that the deal was the “fulfilment of a dream”.

Kirankumar Granthi, Corporate Chairman of the GMR Group

“Becoming 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,” he said.

GMR owns a 50 per cent stake in Delhi Capitals and in the Dubai Capitals and Pretoria Capitals, as well as investing in US Major League Cricket team the Seattle Orcas.

Kiran Kumar Grandhi, corporate chairman of GMR Group, said: “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.”

ECB chief executive Richard Gould said the announcement “demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket”.

Hampshire finished second in division one of the just-concluded County Championship. — AFP

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}