After Rod Bransgrove sold his interest, the package for English county was confirmed.
After the parent company of the club consented to the purchase of a majority interest to GMR Group, an American network company that owns teams in different T20 leagues, including the Delhi Capitals in the IPL, the county of Hampshire will become the first English county to own a team from abroad.
ESPNcricinfo understands that GMR Group's parent company, GGPL, will initially hold a 53 % stake in Hampshire Sport & Leisure Holdings Ltd, Hampshire's parent company, with a completed 100 % acquisition expected within the next 24 months.
That approach does not ensure GMR's merger of Southern Brave, the Hundred team who play at Hampshire's Utilita Bowl, though they appear set to get complete ownership. The continued sale of equity stakes in the eight Hundred teams by the ECB does require 51 % stakes being transferred to sponsor counties- in this case, Hampshire- but the process includes a mechanism which may require GMR to pay fair market value for the remaining 49 % before that transfer happens.
The deal makes GMR Group the majority shareholder in the club, after Hampshire's former chairman, Rob Bransgrove decided to sell his 60 % stake in the company. Bransgrove will, however, continue as Group Chairman until at least September 30, 2026, with David Mann retaining his role as Group CEO.
While its business focus has been in the infrastructure business, GMR Group made its first major sporting investment in 2008 when it bought Delhi Daredevils. In 2018, GMR sold a 50 % ownership stake in the Delhi franchise to Jindal South West ( JSW), a fellow Indian business heavyweight. In cricket, the GMR Group also owns the Dubai Capitals franchise in the UAE's ILT20 and has a stake in Seattle Orcas in MLC.
The potential for overseas investment in Hampshire derives from Bransgrove's original bail-out of the county in 2000, when he secured the club's move from its 116-year home at Northlands Road in Southampton to the Utilita Bowl, on the outskirts of the city.
In doing so, he transformed Hampshire from a members-only club to the then-named Rose Bowl PLC, oversaw the development of the venue, which currently includes the Hilton hotel and Boundary Lakes Golf Course, and is currently considering adding more amenities with Eastleigh Borough Council's consideration.
In 2011, the Utilita Bowl played its first Test match against Sri Lanka, and in 2020, the hotel's proximity and its close proximity made it ideal for the ECB's bio-secure summer during the Covid pandemic in 2020. The ground hosted a total of three Tests against West Indies and Pakistan, and six white-ball matches against Australia and Ireland.
" This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters", Bransgrove said in a press release. " 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 organization, 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 2021, Hampshire also hosted the inaugural World Test Championship final between Australia and India, again with Covid restrictions, while in 2027, it is due to host its maiden Ashes Test.
Richard Gould, the ECB's chief executive, said that the deal" demonstrates the global interest "in investing in English cricket and underlines" the continuing appeal of county cricket. " Gould said:" 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.
" I'd like to thank Rod Bransgrove for all he has done in transforming Hampshire and creating a world-class stadium, and look forward to continuing to work together in his role as Group Chair".
Grandhi Kiran Kumar, Corporate Chairman of GMR Group, added:" With this acquisition, along with our investments in the US, Dubai, and India, GMR is focused on engaging and connecting with the global youth. We 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".
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