NEW DELHI: The GMR Group, co-owners of the Delhi Capitals IPL team, has secured a groundbreaking deal with Hampshire, an English county cricket team. This agreement marks the first time an overseas investor has entered the English county cricket scene.
The GMR Group will initially hold a 49% stake in Hampshire, with the option to acquire the remaining 51% in the future.The deal is valued at approximately Rs 1200 crore.
This new partnership grants GMR control over the Utilita Bowl, the Hilton hotel, and the 18-hole golf course adjacent to the cricket ground. GMR’s growing portfolio in cricket already includes teams in the IPL, ILT20 in the UAE, and Major League Cricket in the USA.
Financial stability
Earlier this year, the England Cricket Board (ECB) received approval from the 18 first-class counties to proceed with privatization. The GMR Group’s investment in Hampshire is the first instance of an IPL franchise investing in an English county cricket team.
The ECB has been seeking financial stability, and the privatization of The Hundred is part of this strategy. Other IPL franchises, such as Rajasthan Royals, Kolkata Knight Riders, Mumbai Indians, and Lucknow Supergiants, have shown interest in English county cricket.
“There is going to be a lot of interest from IPL franchises because they have the money and this is a golden opportunity for the ECB to achieve the long desired financial stability,” stated a source tracking the developments.
While there are discussions about possibly changing the format of The Hundred, the tournament’s branding is expected to remain unchanged. A shift to a T20 format is considered a strong possibility, although no decisions have been made yet.
The GMR-Hampshire deal is expected to serve as a catalyst for further discussions between other counties and overseas investors.
The GMR Group will initially hold a 49% stake in Hampshire, with the option to acquire the remaining 51% in the future.The deal is valued at approximately Rs 1200 crore.
This new partnership grants GMR control over the Utilita Bowl, the Hilton hotel, and the 18-hole golf course adjacent to the cricket ground. GMR’s growing portfolio in cricket already includes teams in the IPL, ILT20 in the UAE, and Major League Cricket in the USA.
Financial stability
Earlier this year, the England Cricket Board (ECB) received approval from the 18 first-class counties to proceed with privatization. The GMR Group’s investment in Hampshire is the first instance of an IPL franchise investing in an English county cricket team.
The ECB has been seeking financial stability, and the privatization of The Hundred is part of this strategy. Other IPL franchises, such as Rajasthan Royals, Kolkata Knight Riders, Mumbai Indians, and Lucknow Supergiants, have shown interest in English county cricket.
“There is going to be a lot of interest from IPL franchises because they have the money and this is a golden opportunity for the ECB to achieve the long desired financial stability,” stated a source tracking the developments.
While there are discussions about possibly changing the format of The Hundred, the tournament’s branding is expected to remain unchanged. A shift to a T20 format is considered a strong possibility, although no decisions have been made yet.
The GMR-Hampshire deal is expected to serve as a catalyst for further discussions between other counties and overseas investors.