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Landmark partnership ensures new owners are committed to promoting the development of Hampshires cricket teams and pathways, and improving the Utilita Bowl site
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.
This is the fulfillment of a dream for me and, I hope, for all the supporters of Hampshire Cricket. In addition to our team's on-field achievements over the last 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 this relatively short history.
After a thorough selection process, we chose GGPL as our partners because of 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 opens up exciting new possibilities as we embrace the globalization of this great sport.
Rod Bransgrove, Chairman of Hampshire Sport & Leisure Holdings 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.
What initially attracted me to Hampshire was the way it was led by Rod Bransgrove, whose leadership ethos is closely aligned with that of the GMR Group. I believe GGPL is best positioned to continue Rod's legacy and build on the strong foundation he has laid.
With this acquisition, along with our investments in the US, Dubai and India, GMR is focused on engaging and connecting with the global youth. We are committed to financial prudence, value creation and creating opportunities for young talent. Our vision is to transform sport into a platform that unites people and cultures, drives global excellence and fosters the creation of future world champions.
Grandhi Kiran Kumar, Company Chairman, GMR Group
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.
International investments in sport in our municipality protect our world-class location for the future. It will reach new audiences and encourage participation in cricket among more young people, capturing the energy of our new Indian partners with their country's passion for the game. Eastleigh Borough Council's twenty-plus year commitment to our arena is one that we remain rightly proud of and look forward to continuing.
Cllr Keith House, Leader of Eastleigh Borough Council
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.
This is an exciting time for Hampshire Cricket, and I would like to welcome GGPL to cricket in England and Wales. I welcome their commitment to continuing to develop Hampshire's cricket teams and pathways and improving the facilities at Utilita Bowl, and their respect for the sporting traditions of this country. This announcement also demonstrates the global interest in investing in cricket in England and Wales, and underlines the continued appeal of county cricket.
I would like to thank Rod Bransgrove for all he has done in transforming Hampshire and creating a world-class stadium, and I look forward to continuing to work together in his role as group chairman.
With the men's team doing well in the County Championship, the women's team competing in the first division of the new domestic structure next year and the Utilita Bowl hosting the first Men's Ashes Test in 2027, there is a lot for Hampshire supporters to look forward to .
Richard Gould, CEO of the ECB
View our gallery of the annual 10k race at Utilita Bowl
'Landmark partnership' sees new ownership committed to promoting the development of Hampshire's cricket teams and pathways, and improving the Utilita Bowl site
Hampshire's Liam Dawson and James Vince retain their places in PCA Men's Team of the Year
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