Delhi Capitals owners set up £120 million deal to buy major share in Hampshire takeover
no image
136
IPL franchise Delhi Capitals' owners, the GMR group have agreed to sign a deal to acquire the majority share of Hampshire Cricket Club. The GMR group has signed £120 million deal to take over the county club making Hampshire the first club to be owned by an international franchise.
According to The Telegraph, the GMR group is poised to acquire full ownership of Hampshire and a 51% stake in the Southern Brave, with an option to eventually fully acquire the franchise. This transaction falls under the agreement submitted to the England and Wales Cricket Board (ECB) for further modifications.
The co-owners of the Capitals have reportedly outbid the Lucknow Super Giants with an offer valuing Hampshire at £120 million, which includes the club's debts of approximately £60 million. GMR holds a 50% stake in both Delhi Capitals and their Women's Premier League team, with the remaining 50% owned by another Indian conglomerate, the JSW Group.
As per the report, Hampshire's value seems to have increased from an initial estimate of around £100 million during the negotiation process. This rise in value reflects the ECB's decision to grant them a 51% stake in Southern Brave.
The GMR group also owns a 50% stake in the Dubai Capitals in the UAE's ILT20 and the Seattle Orcas in America's Major League Cricket.
Comments
Leave a comment0 Comments