Hampshire Cricket insist GMR is not getting a Hundred franchise on the cheap after agreeing a deal to become the first Indian-owned county in the English game.
GMR, which owns Indian Premier League side the Delhi Capitals, has signed a deal worth around £120m to acquire Hampshire and the Utilita Bowl, and pay down debt.
The conglomerate also wants to buy Southern Brave, the Hundred franchise in which Hampshire is due to be given a 51 per cent share by the England and Wales Cricket Board.
City AM revealed last week that the ECB had warned counties they must get market value in any Hundred sell-offs, and Hampshire say GMR will pay extra if they buy the Brave.
“The deal is not contingent on getting the Hundred franchise,” said Hampshire chair Rod Bransgrove.
“It’s something we’ve agreed between us, and there will be a further stage payment in the event that the Hundred franchise is allocated to the Utilita Bowl or to Hampshire Cricket during the period before final closing.”
GGPL’s takeover will see Hampshire join a global portfolio of cricket teams that includes the Delhi Capitals, Dubai Capitals, Pretoria Capitals and Seattle Orcas.
Bransgrove said there had been no discussion yet about incorporating the “Capitals” brand in any new name for the Southern Brave, but made clear he would not oppose it.
“We don’t even know whether the word ‘Southern’ will stay in or not, never mind ‘Braves’,” he added. “But for the avoidance of doubt, I am never opposed to change.”
Bransgrove also revealed that former England and Hampshire batter Kevin Pietersen had offered his input on the sale as an ambassador for GMR.
This is expected to be the first of many Indian investments in the English county game as a result of the ECB selling off stakes in the Hundred franchises.
Rajasthan Royals and Sunrisers Hyderabad have both held talks with Yorkshire, while the mega-rich Ambani family wants to buy Lord’s-based London Spirit.
ECB chief executive Richard Gould said: “This is an exciting time for Hampshire Cricket, and I’d like to welcome GGPL to cricket in England and Wales.
“I am pleased to see their commitment to continuing to develop Hampshire’s cricket teams and pathways and enhance facilities at Utilita Bowl, and their respect for the traditions of the game in this country. This announcement also demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket.”
It comes after IPL founder Lalit Modi last week poured scorn on the ECB’s valuation of stakes in Hundred franchises, which it is in the process of auctioning off via bankers the Raine Group.
“I believe GGPL is in the best position to carry Rod’s legacy forward and continue building on the strong foundation he has established,” said Grandhi Kiran Kumar, chairman of GMR Group.
“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 sports into a platform that unites people and cultures, drives global excellence, and nurtures the creation of future world champions.”