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The GMR Group, co-owners of IPL franchise Delhi Capitals, has agreed to a deal with English county team Hampshire to buy its major shares worth 120 million pounds (approximately ₹1278 crore).
Hence, Hampshire will become the first county side to be owned by an overseas entity, as the GMR Group will now have control over 51% of the team’s shares.
“The Delhi part-owners are understood to have beaten a second bid from rival Indian Premier League franchise Lucknow Super Giants with an offer which values Hampshire at £120 million, although that price includes the club’s debts of around £60 million,” the Telegraph reported.
Additionally, the GMR Group will also take control of the Utilita Bowl (cricket stadium at Hampshire), the Hilton hotel and a golf course at the same venue.
Apart from being the co-owners of the Capitals, the GMR Group also has equal stakes in Dubai Capitals, the ILT20 side in the UAE, and Seattle Orcas, the Major League Cricket outfit in the USA.
The England and Wales Cricket Board (ECB), the Hampshire club officials and the new owners are expected to make an official announcement soon about the deal.
Besides the significant investment, the take over could also open up the possibility of Hampshire gaining access to some of Delhi Capitals’ young players for domestic tournaments such as the Hundred.
However, at present, the Board of Control for Cricket in India (BCCI) does not permit active Indian cricketers to play in overseas tournaments.
In another significant development, Yorkshire, another English county side, has reopened their talks with Rajasthan Royals for a possible takeover of the Headingley based club.
However, this would require a consent from 6000 Yorkshire members through a ballot.
Content Source: www.thehindu.com