Delhi Capitals co-owners GMR acquires Hampshire, the first county with overseas ownership

Hampshire has become the first English county to have an overseas ownership after they agreed on the sale of a majority stake to GMR Global Pte Ltd (GGPL). The GMR Group is an Indian infrastructure conglomerate who are also the co-owners of Delhi Capitals in the IPL.

100% ownership for GMR in 2 years

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

“This acquisition is designed to strengthen the financial position of Hampshire Sport & Leisure Holdings Limited, including Hampshire Cricket, and will include a material injection of capital to reduce the leveraging of the Hampshire Sport & Leisure Holdings Group. GGPL has committed to furthering the development of Hampshire’s cricket teams and pathways, as well as enhancing the multi-sports and leisure facilities at the Utilita Bowl, including the stadium, hotel, and golf course. GGPL also emphasises the importance of respecting the traditions and culture of the game in England and Wales,” Hampshire Group said in a statement.

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Agreement agreed upon a year ago

“The principal terms and conditions of this agreement were formally agreed upon by the parties a year ago, with the enterprise value set at a fair market valuation. This valuation included all existing assets as well as providing incentives for Hampshire Sport & Leisure Holdings shareholders by way of additional consideration for possible future assets.”

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.

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Established in 2008, the sports business of GMR launched the Delhi Daredevils, the first IPL franchise from India’s capital. Currently, GMR holds a 50% stake in the Delhi Capitals (IPL and WPL), the Dubai Capitals (ILT20) and the Pretoria Capitals (SA20). The sports division has expanded its portfolio to include franchises in the Pro Kabaddi League and Ultimate Kho Kho League, promoting indigenous sports in India. Additionally, the sports division of GMR has invested in the Seattle Orcas team in Major League Cricket, USA.