Hampshire Cricket Club's Groundbreaking Ownership Shift to Indian Conglomerate GMR Group

Hampshire will be the first English county cricket club to be owned by an overseas franchise after an acquisition by Indian conglomerate GMR Group. The phased acquisition starts with a majority stake and aims for complete ownership in two years. This move promises exciting global opportunities for the club.

Hampshire is set to become the first English county to be owned by an overseas entity following its acquisition by Indian conglomerate GMR Group, the county championship club confirmed on Monday.

Under the deal, GMR's parent company, GGPL, will initially secure a majority stake, with the goal of 100% ownership within two years. This strategic acquisition is aimed at significantly reducing Hampshire's debt.

Chairman Rod Bransgrove expressed optimism, calling it a dream come true for Hampshire Cricket supporters and a step towards embracing the globalization of the sport. GMR Group, known for owning several Twenty-20 franchise teams, is poised to infuse new opportunities and growth for the club.

(With inputs from agencies.)