The Delhi Capitals, an Indian Premier League (IPL) team, has agreed to a historic £120 million deal to buy a majority share in English county club Hampshire.This is the first time that an overseas franchise would own an English county team.
According to the terms of the agreement, which has been submitted to the England and Wales Cricket Board (ECB) for approval, the GMR Group, which owns 50% of Delhi Capitals, will take full ownership of Hampshire and a 51% stake in Southern Brave, the Hundred franchise based in Southampton, with the option of completing a 100% acquisition.
Delhi Capitals agree £120m deal to buy Hampshire in historic move for English cricket. Full story @TelegraphSport. GMR Group’s interest first revealed by @willis_macp https://t.co/Lin0UhMeGT
— Matt Hughes (@MattHughesMedia) August 1, 2024
The agreement values Hampshire at £120 million, which includes the club’s debts of about £60 million.This high price reflects Hampshire’s outstanding international schedule, which includes the Ashes Test in 2027 and other high-profile games.
The acquisition will also grant GMR control of the Ageas Bowl (Utilita Bowl), a Hilton hotel, and a golf course near Southampton.It opens up the possibility of Hampshire having access to Delhi Capitals players, particularly young talent, despite the fact that the Board of Control for Cricket in India (BCCI) currently prohibits active Indian cricketers from competing in international events.
The ECB is expected to accept the transaction, since it has actively sought Indian investment.The buyout is an important development in English cricket since it puts the Delhi Capitals in a good position to become the first outright owners of a Hundred franchise.