Hampshire Sport & Leisure Group signs definitive takeover agreement with GMR Group

Hampshire Sport & Leisure Holdings Limited, owner of the Utilita Bowl site and Hampshire Cricket, has signed and exchanged definitive agreements with GMR Global Pte Ltd (GGPL), marking the start of a significant strategic partnership.

The agreement outlines the phased acquisition of the entire issued share capital of Hampshire Sport & Leisure Holdings Limited by GGPL, and an initial reduction of Hampshire Sport & Leisure Holdings' debt, paving the way for long-term growth and financial sustainability.

As part of the agreement, GGPL will initially acquire a majority stake in Hampshire Sport & Leisure Holdings Limited, with full acquisition of 100% ownership expected within the next 24 months. This transaction represents GGPL's broader vision of investing in global sports assets through its overseas platform under the GMR Group.

GGPL is part of the GMR Group, a multi-diversified Indian conglomerate founded in 1978, headquartered in New Delhi, India, with a global presence. GMR Group operates across several sectors including infrastructure, airports, energy and sports, and is highly regarded for its contributions to corporate social responsibility through initiatives in rural development, education, healthcare and skills development.

This acquisition is intended to strengthen the financial position of Hampshire Sport & Leisure Holdings Limited, including Hampshire Cricket, and will include a material capital injection to reduce the debt burden of the Hampshire Sport & Leisure Holdings Group. GGPL is committed to promoting the development of Hampshire's cricket teams and courses, and improving the multi-sport and leisure facilities at the Utilita Bowl, including the stadium, hotel and golf course. GGPL also emphasizes the importance of respecting the traditions and culture of the game in England and Wales.

The key terms of this agreement were formally agreed between the parties a year ago, with the enterprise value set at a fair market valuation. This valuation included all existing assets and provided incentives to Hampshire Sport & Leisure Holdings shareholders as additional consideration for potential 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 September 30, 2026, and David Mann will retain his role as group CEO. Together they will work with GGPL to develop short-, medium- and long-term strategies for the consistent growth of the club and its operations.

Both organizations view this acquisition as a ground-breaking partnership, one that will drive the expansion of sports infrastructure and community engagement at Hampshire Sport & Leisure Holdings. The partnership promises to strengthen the relationship between India and Great Britain while increasing growth opportunities within the Hampshire cricket community and beyond.

In particular, the agreement provides the opportunity to execute the master plan for the development of the Utilita Bowl site, utilizing GMR's global expertise and manpower. The goal is to promote the growth of both brands while maintaining financial stability and the shared belief in mutual success.

The GMR Group, a leading global infrastructure company, has had a significant impact on the sports industry. Founded in 2008, GMR's sports business launched the Delhi Daredevils, the first IPL franchise from India's capital. Currently, GMR has 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 with franchises in the Pro Kabaddi League and Ultimate Kho Kho League, promoting indigenous sports in India. In addition, GMR's sports division has invested in the Seattle Orcas team in Major League Cricket, USA.