Delhi Capital Owners Set To Buy £120 Million Worth Majority Shares In Hampshire
Delhi Capitals buys majority stake on Hampshire County club (X.com)
GMR Group, the owners of the Delhi Capitals, a prominent franchise in the Indian Premier League (IPL), expanded their global reach by agreeing to a £120 million deal to acquire a majority share in Hampshire Cricket Club and a 49 percent share in The Hundred franchise, Southern Brave.
IPL franchises have lately expanded their footing across the globe by acquiring significant shares in various leagues.
Delhi Capitals, partly owned by GMR Group and JSW Group, invested in ILT20 league and MLC league besides their core investment in IPL men's and women's leagues.
Meanwhile, the England Cricket Board (ECB) recently invited IPL franchises to invest in The Hundred League in what was deemed a last bid to revive the unique format tournament.
Delhi Capitals to have major stakes in Hampshire
And as per Telegraph, GMR Group, who owns 50 percent stake in Delhi Capitals, have agreed to buy a £120 million worth majority stake in Hampshire County Club.
DC apparently beat fellow IPL franchise LSG in the bidding war, which resulted in a rise in valuation from the initial £100 million bid.
Hence, ECB practically gifted GMR Group a 49 percent stake in The Hundred franchise, Southern Brave, with an option to convert it into a 100 takeover in the future.
Once the ratification formality is completed by ECB, Hampshire will be the first county club to have overseas ownership.
While BCCI does not allow Indian players to feature in The Hundred, the change in ownership might result in an increase in signings for the County season.
Having said that, with the ECB luring more investors from India, it surely won't be the last deal. More IPL franchises are expected to buy stakes in County clubs, and The Hundred franchises in the near future.
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