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In a groundbreaking move for cricket, the Delhi Capitals (DC) have agreed to acquire Hampshire County Cricket Club for £120 million, marking the first time an overseas franchise will own an English county. The deal, confirmed by reports from the ‘Daily Telegraph,’ signifies a significant shift in the landscape of cricket ownership and investment.
Details of the Historic Acquisition
The agreement, which has been submitted to the England and Wales Cricket Board (ECB), involves the GMR Group, one of the co-owners of the Delhi Capitals, taking full ownership of Hampshire. In addition to this acquisition, the GMR Group will also secure a 51% stake in The Hundred franchise, Southern Brave, with the option to increase their ownership to 100% in the future.
This landmark deal comes after months of speculation regarding the potential for overseas franchises to invest in English cricket. The ECB has been exploring the idea of allowing counties to sell stakes in their teams, which has paved the way for this unprecedented acquisition.
Competitive Bidding and Valuation
The report indicates that the Delhi Capitals outbid fellow IPL franchise Lucknow Super Giants to secure the deal, which also accounts for Hampshire’s debts of approximately £60 million. Initially valued at £100 million, Hampshire’s worth increased during negotiations, attributed to their strong international fixture list and robust ticket sales under former chairman Rod Bransgrove.
Bransgrove, who stepped down last year but retained over 60% of the club’s shares, had the option to sell without fan input, as Hampshire is one of the few counties not member-owned. This unique position allowed for a smoother transition of ownership.
Previous Collaborations and Future Prospects
Hampshire has a history of collaboration with IPL franchises, having previously partnered with the Rajasthan Royals from 2010 to 2013 as Hampshire Royals in T20 cricket. This new ownership by the Delhi Capitals is expected to bring fresh investment and opportunities for growth within the club.
The GMR Group is no stranger to international cricket ownership, as they currently hold a 50% stake in the Delhi Capitals across both the IPL and the Women’s Premier League (WPL). They also own the Dubai Capitals in the UAE’s ILT20 and have a stake in the Seattle Orcas of Major League Cricket in the USA.
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