Delhi Capitals owners agree £120m deal to buy Hampshire in historic move
The report revealed that Delhi Capitals beat fellow IPL franchise Lucknow Super Giants with an offer of £120 million.
Hampshire is all set to become the first county to be owned by an overseas franchise. The Delhi Capitals (DC), an Indian Premier League (IPL) franchise, has agreed to a £120 million deal to buy the club.
According to a report in the 'Daily Telegraph', based on the terms of an agreement that has been passed to the England and Wales Cricket Board (ECB), the GMR Group, one of the owners of Delhi Capitals, will take full ownership of the English County Club Hampshire. The Indian multinational conglomerate will also own 51 per cent stake in The Hundred franchise, Southern Brave, with the option of completing a 100 per cent ownership.
It was the 'Daily Telegraph' that first reported about the possibility of this move by Delhi Capitals back in January this year after rumours emerged that the ECB was exploring opening up 50 per cent stakes in a few Hundred teams, and giving host counties the option to sell their shares.
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Former Hampshire chairman Rod Bransgrove, who was in charge of the club for 23 years, stepped down from his position last year but continued to hold more than 60 per cent of the shares. However, with Hampshire being among the three counties, besides Northamptonshire and Durham, that are not member-owned, Bransgrove had the option to sell his stakes "without fan input."
The report further revealed that Delhi Capitals beat fellow IPL franchise Lucknow Super Giants with an offer of £120 million, which includes the club's debts of around £60 million. It appeared, Hampshire's value went up from £100 million during the process of negotiation, and the high valuation due to their impressive international fixture list and strong ticket sales secured by owner Rod Bransgrove.
Hampshire previously collaborated with another IPL franchise, Rajasthan Royals, between 2010 and 2013, participating in T20 cricket as Hampshire Royals. GMR Group currently holds a 50 per cent stake in Delhi Capitals across both the IPL and the Women's Premier League (WPL). Additionally, they own Dubai Capitals in the UAE's ILT20 and have a share in the USA's Major League Cricket side Seattle Orcas.
