NEW DELHI: The GMR Group , co-owners of the IPL franchise Delhi Capitals , has agreed to purchase a major stake in the English county team Hampshire for £120 million, or approximately Rs 1278 crore. This makes Hampshire the first county side to be owned by an overseas entity, with GMR acquiring 51% of the team's shares.
According to The Telegraph, GMR outbid the rival IPL franchise Lucknow Super Giants to secure this landmark deal, which includes taking on Hampshire's debts of around £60 million. The agreement gives GMR control over the Utilita Bowl cricket stadium, a Hilton hotel, and a golf course at the same venue.
GMR Group is known for its investments in cricket, holding equal stakes in Dubai Capitals (ILT20) and Seattle Orcas (Major League Cricket), apart from co-owning Delhi Capitals.
The England and Wales Cricket Board (ECB), Hampshire club officials, and the new owners are expected to make an official announcement soon, as per a PTI report.
The acquisition could potentially allow Hampshire to benefit from Delhi Capitals' young talent for domestic tournaments, such as The Hundred. However, current BCCI regulations prevent active Indian cricketers from participating in overseas leagues.
Meanwhile, Yorkshire, another English county side, has reopened takeover talks with Rajasthan Royals. This potential deal would require the approval of 6,000 Yorkshire members through a ballot.
According to The Telegraph, GMR outbid the rival IPL franchise Lucknow Super Giants to secure this landmark deal, which includes taking on Hampshire's debts of around £60 million. The agreement gives GMR control over the Utilita Bowl cricket stadium, a Hilton hotel, and a golf course at the same venue.
GMR Group is known for its investments in cricket, holding equal stakes in Dubai Capitals (ILT20) and Seattle Orcas (Major League Cricket), apart from co-owning Delhi Capitals.
The England and Wales Cricket Board (ECB), Hampshire club officials, and the new owners are expected to make an official announcement soon, as per a PTI report.
The acquisition could potentially allow Hampshire to benefit from Delhi Capitals' young talent for domestic tournaments, such as The Hundred. However, current BCCI regulations prevent active Indian cricketers from participating in overseas leagues.
Meanwhile, Yorkshire, another English county side, has reopened takeover talks with Rajasthan Royals. This potential deal would require the approval of 6,000 Yorkshire members through a ballot.
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