GMR Group, a leading global infrastructure conglomerate today announced the acquisition of Hampshire Cricket, marking a historic milestone in the world of cricket. This is the first instance of a county cricket team being acquired by an international company, setting a new precedent in the sport.
GMR Global Pte Ltd (GGPL), a GMR Group company, has entered into a definitive agreement to acquire 100% of Hampshire Sport & Leisure Holdings Limited (HSLHL), the parent company of Hampshire Cricket. The acquisition will be completed in phases over the next 24 months. Hampshire Cricket, founded in 1863, is one of 18 First-Class counties in England and Wales.
The partnership between GMR and Hampshire Cricket is expected to drive significant growth and development for the county. GMR’s global expertise and resources will be instrumental in enhancing Hampshire’s infrastructure, expanding its reach, and fostering talent development. The principal terms and conditions of this agreement were formally agreed by the parties a year ago with the enterprise value encompassing a fair market valuation of the existing assets as well as any probable future assets including by incentivising the existing shareholders of HSLHL through additional consideration.
Speaking on the occasion Mr. Kiran Kumar Grandhi, Corporate Chairman of GMR Group, commented, “We are thrilled to welcome Hampshire Cricket into the GMR family. This acquisition is a testament to our commitment to global sports and our belief in the power of cricket to unite people. We look forward to working with the Hampshire team to create a sustainable and successful future for the club.”
GMR Group has a strong track record in sports, with investments in various cricket leagues and teams worldwide. This acquisition further strengthens GMR’s position as a major player in the global sports landscape.
Expressing his enthusiasm for the partnership, Mr. Rod Bransgrove, Chairman of HSLHL Group, said, “This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters. Beyond our team’s accomplishments on the field over the past 24 years, we have transformed our stadium into a premier Test Match and events venue and one of the most exceptional cricket and leisure facilities in the country. We have also been pioneers in the development of women’s cricket and have consistently innovated throughout our relatively short history.
“After a thorough selection process, we chose GGPL as our partners due to their shared values and commitment to our vision. We believe GGPL is the perfect organization, with the right people, to build on our proud legacy. Becoming the first English cricket club to join an international cricket group will open exciting new opportunities as we embrace the globalization of this great sport.”
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 spirts 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.