Sports
England cricket team Hampshire will be bought by co-owner of IPL franchise Delhi Capitals
Hampshire will become the first cricket club in the English province to be owned by a foreign franchise after entering into a phased takeover with the co-owner of Indian Premier League team Delhi Capitals.
The deal was described by Hampshire, a county in the south of England, as the start of a major strategic partnership with GMR Global Pte Ltd, which would see the Indian conglomerate initially buy a majority stake before acquiring 100% of the company, likely within the next 24 months would acquire shares. .
Becoming the first English cricket club to join an international cricket group will create exciting new opportunities as we embrace the globalization of this great sport,” said Rod Bransgrove, majority shareholder of Hampshire, who stepped down as chairman last year amid of reports that he was in negotiations with an American cricket club. new investor.
In addition to a 50% stake in Delhi Capitals, GMR also owns shares in fellow cricket teams Dubai Capitals and the Pretoria Capitals, and is an investor in the Seattle Orcas in Major League Cricket in the US.
Hampshire are a two-time English county champions who won the country's top Twenty20 competition, the Blast, in 2022. The team plays in the Rose Bowl, which has hosted England Tests and limited-overs internationals.
Hampshire said GMR is committed to promoting the development of Hampshire's cricket teams and pathways and has highlighted the importance of respecting the traditions and culture of the game in England and Wales.
This is the fulfillment of a dream for me, said Bransgrove, and, I hope, for all Hampshire Cricket supporters.
Richard Gould, chief executive of the England and Wales Cricket Board, said the deal demonstrates the global interest in investing in cricket in England and Wales, and underlines the continued appeal of county cricket.
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AP cricket: https://apnews.com/hub/cricket
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