Hampshire Sport & Leisure Holdings Limited, owner of Hampshire Cricket and the Utilita Bowl site, has agreed a takeover deal with GMR Global Pte Ltd (GGPL), the co-owner of Indian Premier League franchise Delhi Capitals.
The partnership will lead to enhancement of the Utilita Bowl site and support the development of Hampshire’s cricket teams and pathways. GGPL is part of the GMR Group, a multi-faceted Indian conglomerate founded in 1978.
Hampshire will become the first English county cricket team to be owned by an overseas franchise. The deal, which Hampshire described as “landmark” for the club, ties in with GGPL’s plans to invest in global sports assets through its overseas platform under the GMR Group.
Financial terms of the agreement were not disclosed, but it has been widely reported that the takeover deal is worth £120m (€144m/$161m).
Hampshire Sport & Leisure Holdings confirmed today (Monday) that it had signed and exchanged “definitive agreements” with GGPL. The announcement comes after Hampshire confirmed back in January that it was in “detailed negotiations” regarding outside investment amid a report linking GMR Group to the club.
The agreement outlines the phased acquisition of the entire issued share capital of Hampshire Sport & Leisure Holdings by GGPL, and an initial reduction of the former’s debt. The principal terms and conditions of the agreement were agreed a year ago.
GGPL will initially acquire a majority stake in the current ownership group, with the completed acquisition of 100% ownership expected within the next two years. GGPL has committed to enhancing the multi-sport and leisure facilities at the Utilita Bowl, including the stadium, hotel and golf course.
Rod Bransgrove, chairman of Hampshire Sport & Leisure Holdings, said: “This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters. Beyond our team’s accomplishments on the field over the past 24 years, we have transformed our stadium into a premier Test match and events venue and one of the most exceptional cricket and leisure facilities in the country. We have also been pioneers in the development of women’s cricket and have consistently innovated throughout this relatively short history.
“After a thorough selection process, we chose GGPL as our partners due to their shared values and commitment to our vision. We believe GGPL 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 globalisation of this great sport.”
Bransgrove will continue as group chairman of Hampshire until at least September 30, 2026, and David Mann will retain his role as group chief executive. They will work with GGPL to develop short, medium and long-term strategies for the club.
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 GGPL is in the best position to carry Rod’s legacy forward and continue building on the strong foundation he has established.
“With this acquisition, along with our investments in the US, Dubai, and India, GMR is focused on engaging and connecting with the global youth. We are committed to financial prudence, value creation, and creating opportunities for young talent. Our vision is to transform sports into a platform that unites people and cultures, drives global excellence, and nurtures the creation of future world champions.”
Earlier this month, Utilita Bowl announced the completion of a major solar panel installation project. Over 1,000 solar panels have been fitted as part of plans to transform the venue into the “world’s greenest cricket stadium”.
