Delhi Capitals (DC) signed a deal to buy a majority stake in Hampshire County Cricket Club, becoming the first IPL franchise to buy an English county cricket club, a Telegraph report stated. The deal between the two sides has been signed for £120m, giving DC 51% stakes in the club.
According to the terms of an agreement submitted to the England and Wales Cricket Board (ECB), the GMR Group, one of Delhi Capitals’ shareholders, would acquire full ownership of the English County Club Hampshire.
The Indian global business would also possess a 51 percent part in The Hundred franchise, Southern Brave, with the option of acquiring full ownership.
The ‘Daily Telegraph’ originally reported on the prospect of this action by Delhi Capitals in January this year, after speculations circulated that the ECB was considering opening up 50% stakes in a few hundred teams and allowing host countries the chance to sell their shares.
Former Hampshire chairman Rod Bransgrove, who led the club for 23 years, stepped down last year but still owns more than 60% of the shares. However, because Hampshire is one of three counties, along with Northamptonshire and Durham, that are not member-owned, Bransgrove was able to sell his stakes “without fan input.”
Delhi Capitals beat Lucknow Super Giants to buy Hampshire County Cricket Club
According to the source, Delhi Capitals outbid another IPL team Lucknow Super Giants for £120 million, which includes the club’s approximately £60 million in debts.
According to reports, Hampshire’s value increased from £100 million throughout the negotiation process, with the high price attributed to their great international fixture list and good ticket sales obtained by owner Rod Bransgrove.
Hampshire previously worked with another IPL club, the Rajasthan Royals, from 2010 to 2013, playing T20 cricket as the Hampshire Royals.
GMR Group now owns a 50% share in Delhi Capitals in both the IPL and the Women’s Premier League (WPL). They also control the Dubai Capitals in the UAE’s ILT20 league and a stake in the Seattle Orcas of the Major League Cricket in the United States.
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