In step with the deal, GMR’s guardian firm (GGPL) has agreed on a “phased acquisition” of Hampshire’s guardian firm alongside side an initial reduction of their debt.
Reuters
30 September, 2024, 10:40 pm
Ultimate modified: 30 September, 2024, 10:42 pm
Hampshire will change into the first English county to be owned by an in a foreign nation franchise after signing an acquisition agreement with Indian conglomerate GMR Neighborhood, the county championship membership acknowledged on Monday.
GGPL will at the beginning create a majority stake in Hampshire with a entire 100% takeover anticipated within the following two years.
“That is the fulfilment of a dream for me and, I’m hoping, for all Hampshire Cricket supporters,” Hampshire Sport & Leisure Holdings Neighborhood’s Chairman Rod Bransgrove acknowledged in an announcement.
“After a thorough desire job, we chose GMR as our partners because of their shared values and dedication to our vision. We judge it is a most attention-grabbing organisation, with the very most attention-grabbing other americans, to compose on our proud legacy.
“Turning into the first English cricket membership to be part of a world cricket team will originate tantalizing modern opportunities as we embrace the globalization of this worthy sport.”
Hampshire’s existing leadership group will remain intact with Bransgrove continuing as chairman until a minimal of Sept. 30, 2026, and David Mann as CEO, the commentary acknowledged.
GMR team owns groups in assorted Twenty-20 leagues, including the Delhi Capitals within the Indian Premier League (IPL) and Girls folks’s Premier League (WPL), Dubai Capitals in Global League Twenty-20 (ILT20) and Pretoria Capitals in South Africa 20(SA20).
