The IPL franchise Delhi Capitals’ co-owner, GMR Group, has made a historic deal with England’s county cricket team, Hampshire. GMR Group has acquired a 49% stake in Hampshire. According to a report by the Times of India, the group has spent ₹1200 crores for this investment. This marks the first time in the history of England cricket that a foreign investor has made such an investment. GMR Group also has the option to purchase the remaining 51% stake in the future. Along with the stake in Hampshire, GMR Group will also own the rights to the Ageas Bowl (formerly known as the Rose Bowl) ground, Hilton Hotel, and an 18-hole golf course.
GMR Group already holds stakes in the Seattle Orcas team in Major League Cricket (USA) and the Dubai Capitals team in the UAE’s ILT20 league.
England Cricket has been facing financial struggles for some time, particularly in county cricket. To address this issue, the England Cricket Board (ECB) has opted for privatization, with all 18 county teams agreeing to the plan. As part of this strategy, shares in The Hundred league teams will be sold first.
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According to the Times of India, sources within the ECB mentioned that IPL franchises have the money and are interested in acquiring stakes in county teams. This presents a significant opportunity for the ECB to overcome financial difficulties.
Last year, the Rajasthan Royals team wanted to buy Yorkshire County Cricket Club, but the deal did not materialize. Similarly, Sunrisers Hyderabad and Lucknow Super Giants had also tried their luck but could not close a deal.
Following GMR Group’s successful acquisition, the doors have been opened for other franchises to invest in England’s county clubs. It is expected that this will increase foreign investors’ interest in county cricket. Additionally, discussions are ongoing about changing the format of The Hundred league. Currently, the league consists of 100-ball matches, but there are talks of converting it to a T20 format.