Hampshire agree 'dream' takeover by IPL group

Hampshire were runners-up in County Championship Division One this season, after finishing third in each of the past two years

Hampshire have signed a deal with Delhi Capitals co-owners the GMR Group to finalise a takeover of the County Championship club.

The agreement - which has been ratified by the England and Wales Cricket Board (ECB) - makes Hampshire the first county to be owned by an overseas franchise.

GMR - which has wholly or jointly-owned Indian Premier League side Capitals since the IPL's inception in 2008 - initially agreed the deal for the Southampton-based club a year ago.

The parties have agreed a "phased acquisition" which will see GMR take an immediate majority stake and aim to complete a 100% takeover in the next two years.

"This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters," said Rod Bransgrove, the club's majority shareholder.

“After a thorough selection process, we chose GMR as our partners due to their shared values and commitment to our vision. We believe it is the perfect organisation, with the right people, to build on our proud legacy.

"Becoming the first English cricket club to join an international cricket group will open exciting new opportunities as we embrace the globalization of this great sport."

The deal is solely for control of Hampshire and does not relate to the Hundred or the Southampton-based Southern Brave franchise in any way.

Under the new ownership structure, Hampshire's existing leadership team will remain in place.

Bransgrove - who announced last year he would step down as Hampshire chairman after 23 years - will now continue as group chairman until at least 30 September 2026, while David Mann retains his role as group chief executive officer.

Retiring Hampshire chair Rod Bransgrove (right) was presented with a silver bat by ECB chair Richard Thompson in 2023 - but has delayed his retirement to stay on

Bransgrove arrived at the club in 2000 when it stood on the brink of bankruptcy.

His investment helped Hampshire relocate from Northlands Road in Southampton, the club's home of 116 years, to the Utilita Bowl on the edge of the city, while the club has been awarded an Ashes Test in 2027 - a long-term goal for Bransgrove.

GMR holds a 50% stake in the Delhi Capitals (IPL and Women's Premier League), the Dubai Capitals (International League T20) and South Africa T20 side Pretoria Capitals (SA20) as well as investing in USA Major League Cricket club Seattle Orcas.

Grandhi Kiran Kumar, corporate chairman of GMR Group, said: "What initially attracted me to Hampshire was the way it was run by Rod Bransgrove, whose leadership ethos closely mirrors that of the GMR Group.

"I believe [we are] in the best position to carry Rod's legacy forward and continue building on the strong foundation he has established."

The deal comes with an immediate but undisclosed cash injection to reduce Hampshire's debt position and improve facilities at the stadium, the adjoining hotel and golf course, which are owned by Hampshire Sport & Holdings Group Ltd.

Richard Gould, ECB chief executive officer, said: "This is an exciting time for Hampshire, and I'd like to welcome GGPL [GMR Global Pte Ltd] to cricket in England and Wales.

"I am pleased to see their 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.

"I'd like to thank Rod Bransgrove for all he has done in transforming Hampshire and creating a world-class stadium, and look forward to continuing to work together in his role as group chair."

'Historic day for Hampshire'

Analysis, from BBC Radio Solent's Hampshire commentator Kevan James

A historic day as Hampshire become the first county to be owned by a foreign company.

This is a good deal for the club in every way. Firstly, several million pounds of debt will be immediately repaid - how lots of teams would love to be in that situation right now.

Secondly, this "phased acquisition" over two years will see former majority shareholder and owner Rod Bransgrove still playing a role for a while, which many members and supporters will find reassuring until they get to know a little more about the new owners.

Thirdly, perhaps more a talking point - the Hundred and the Southern Brave, who are based at the Utilita Bowl.

I don't confess to know all the ins and outs, but my understanding is that GMR are buying the assets of Hampshire Cricket which include the hotel, ground and golf club.

Hampshire, like every other county, currently has a small percentage stake in the Hundred competition.

Further down the line the ECB have said that host counties will receive a 51% stake.