GMR completes Hampshire Cricket takeover

Article posted by Coliseum, October 8^th, 2024

Image: Utilita Bowl

Hampshire Cricket have signed a deal with Indian Premier League franchise Delhi Capitals co-owners, the GMR Group, to finalise a takeover of the English County Championship club.

Hampshire Sport & Leisure Holdings said the agreement will see the new ownership commit to furthering the development of Hampshire’s cricket teams and pathways, as well as enhancing the Utilita Bowl site.

The 25,000-capacity Rose Bowl, known for sponsorship reasons as the Utilita Bowl, is a cricket ground and hotel complex in West End, Hampshire (UK). It is the home of Hampshire County Cricket Club, which has played there since 2001.

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.

As part of the agreement, GMR will initially acquire a majority stake in Hampshire Sport & Leisure Holdings, with the completed acquisition of 100% ownership expected within the next 24 months.

This transaction represents GMR’s broader vision of investing in global sports assets through its overseas platform.

Rod Bransgrove, Chairman of Hampshire Sport & Leisure 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 GMR as our partners due to their shared values and commitment to our vision. We believe GMR is the perfect organization, 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.”

GMR Group is a multi-diversified Indian conglomerate founded in 1978, headquartered in New Delhi, India, with a global presence.

GMR Group operates across various sectors, including infrastructure, airports, power, and sports, and is highly regarded for its contributions to corporate social responsibility through initiatives in rural development, education, health, and skill development.

The acquisition is designed to strengthen the financial position of Hampshire Sport & Leisure Holdings, including Hampshire Cricket, and will include a material injection of capital to reduce the leveraging of Hampshire Sport & Leisure Holdings.

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 GMR 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.”

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

Rod Bransgrove will continue as Group Chairman until at least 30 September 2026, and David Mann will retain his role as Group CEO. Together, they will work with GMR to develop short, medium, and long-term strategies for the consistent growth of the club and its operations.

Cllr Keith House, Leader of Eastleigh Borough Council said, “International investment into sport in our Borough protects our world class venue for the future. It will reach new audiences and boost participation in cricket with more young people, capturing the energy of our new Indian partners with their nation’s passion for the game.

“Eastleigh Borough Council’s more than 20-year commitment to our arena is one we remain rightly proud of and look to continue.”

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