Hampshire became the first county cricket club to welcome foreign ownership when the owners of Indian Premier League franchise Delhi Capitals paid £120million for majority control of the 161-year-old institution.
Rod Bransgrove, the club’s chairman, confirmed the sale of a 53 per cent stake after months of talks with the GMR Group, who also have shares in Dubai Capitals, Pretoria Capitals and Seattle Orcas. ‘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,’ said Bransgrove.
The sale includes the purpose-built Utilita Bowl stadium that Bransgrove funded when he saved Hampshire from oblivion at the turn of the century, its adjacent golf course and on-site hotel.
Bransgrove, 74, will remain in his role in a two-year phasing period towards full ownership by GMR.
Hampshire have become the first county cricket club to welcome foreign ownership
Indian Premier League franchise Delhi Capitals paid £120m for majority control of the side
Hampshire chairman Rod Bransgrove confirmed sale of a 53 per cent stake to the GMR Group
Other counties are sure to follow suit, although all of the 18 bar Northamptonshire and Durham are members’ clubs.
Yorkshire are pursuing a process of ‘demutualisation’ that would allow them to secure investment, following interest from Rajasthan Royals and Sunrisers Hyderabad.
Last month the ECB began the process of securing private investment in their eight Hundred teams, but Bransgrove says the Hampshire deal should not be viewed as a back-door attempt to buy into the competition.
