Delhi Capitals Co-Owner Acquire 100% Ownership Of THIS County Club
Delhi Capitals co-owner has now acquired stake in an English County club.
The GMR Group, who are the co-owners of the Indian Premier League (IPL) franchise Delhi Capitals (DC), completed an agreement with Hampshire on Monday (September 30) to buy majority stake in the English county club. Notably, the GMR Group will initially have 53 per cent stake in the club which means it will become the first club in County cricket history to have an overseas ownership.
Over the course of the next 24 months, in a phase by phase arrangement, the Indian conglomerate will acquire 100 per cent stake of the County club.
"Hampshire Sport & Leisure Holdings Limited, owner of the Utilita Bowl site and Hampshire Cricket, has signed and exchanged definitive agreements with GMR Global Pte Ltd (GGPL), marking the start of a significant strategic partnership," the club said in an official statement.
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"As part of the agreement, GGPL will initially acquire a majority stake in Hampshire Sport & Leisure Holdings Limited, with the completed acquisition of 100% ownership expected within the next 24 months," it added.
Other Than DC, GMR Also Holds Stake In Dubai Capitals and Pretoria Capitals
Other than DC (IPL and the WPL), GMR also holds stake in the Dubai Capitas (ILT20) and the Pretoria Capitals (SA20). In addition, the GMR Group also has investments in the Seattle Orcas in the Major League Cricket, USA.
Richard Gould who happens to be the ECB Chief Executive Officer welcomed the acquisition of the county club by the IPL franchise's co-owner.
"This is an exciting time for Hampshire Cricket," he said.
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"I am pleased to see GGPL’s (the parent compant of GMR) 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.
"This announcement also demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket," Gould stated.
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