The owners of the Delhi Capitals have reached a £120 million agreement to purchase Hampshire, marking the first time a county will be owned by an overseas franchise.
The GMR Group, under this agreement awaiting ratification by the England and Wales Cricket Board (ECB), is set to take full control of Hampshire and acquire a 51 per cent stake in the Southern Brave, with an option to fully take over the Hundred franchise. This Indian bid for Hampshire was initially revealed by Telegraph Sport in January, with both parties aiming to finalise it before the ECB's sale of their 49 per cent share in the eight Hundred franchises concludes at the year's end.
The Delhi Capitals co-owners outbid the Lucknow Super Giants with a £120 million offer for Hampshire, which includes the club's debts of around £60 million. GMR currently holds 50 per cent stakes in both the Delhi Capitals and their Women’s Premier League franchise, while JSW Group owns the other half.
Hampshire's valuation has risen from an initial £100 million, reflecting the ECB's decision to grant them a 51 per cent stake in Southern Brave and due to an impressive international fixture list and strong ticket sales orchestrated by owner Rod Bransgrove. Bransgrove, who rescued the club from bankruptcy 24 years ago, has secured notable fixtures including an Ashes Test in 2027, an India Test in 2029, another Test in 2030, and eight England white-ball matches between 2025 and 2031.
The GMR takeover, which also includes control of the Utilita Bowl, a Hilton hotel, and a golf course near Southampton, is significant for English cricket, positioning the Indian franchise to potentially become the first outright owner of a Hundred team. With 51 per cent control of Southern Brave already, a full takeover seems imminent as the sale process, described by the ECB as "speed dating," begins next month.
The ECB, which has been seeking Indian investment, is not expected to oppose Delhi’s bid, as long as the interests of existing stakeholders, particularly Southern Brave's co-shareholders Sussex, are safeguarded.
The takeover could provide Hampshire access to young talents from the Delhi Capitals, even though the BCCI currently restricts Indian players from participating in the Hundred. However, there is potential for short-term signings for county cricket. There is confidence at Hampshire that the takeover will enable the club to challenge Surrey’s domestic dominance.
Meanwhile, the Rajasthan Royals have reopened discussions with Yorkshire about a takeover at Headingley. However, this process is expected to take longer since Yorkshire's chairman, Colin Graves, has yet to secure member approval to privatise the club. The demutualisation process requires a 75 per cent majority in a vote involving at least 50 per cent of Yorkshire’s 6000 members.
In May, Graves warned that Yorkshire would be "fighting for their survival" without external investment later this year, but a vote has yet to be scheduled. Leeds MP Alex Sobel is campaigning against Graves and has urged members to oppose the proposal.