GMR Group Makes History with Acquisition of Hampshire County Cricket Club
GMR Group Acquires Hampshire County Cricket Club
The deal between GMR Group, which co-owns Delhi Capitals, and Hampshire County was finally sealed today. England’s famous Hampshire County Club has now become the first foreign-owned cricket club. Under the deal, GGPL, the parent company of the GMR Group, has acquired a 53% stake in Hampshire Sports, the county’s parent company. GMR is going to acquire 100% of this club in next 2 years
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The Significance of the Acquisition
GMR Group is an Indian company. He has a 50 percent stake in IPL team Delhi Capitals. Another special thing is that for the first time, an English cricket club has come under the control of an Indian. The group has become the majority shareholder in the club after former Hampshire chairman Rob Bransgrove sold a 60 percent stake. It is also reported that former England cricketer Kevin Pietersen played an important role in finalizing the deal.
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Potential Benefits for GMR Group
The deal is worth around 13 billion rupees (£120 million), the Guardian reports. Once GMR acquires 100 percent ownership, the ownership rights of England’s Rose Bowl Stadium will vest with GMR Group. The final of the 2021 World Test Championship was played at this stadium. A total of 7 matches have been organized in this stadium since 2011. Limited overs matches are also organized here. The cricket club also has an on-site hotel called the Hilton. The club also has a golf course called Boundary Lakes on its property. Also, there are many other projects, so GMR Group can benefit greatly.
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