The club’s parent company is “fully engaged in some detailed negotiations” following the Delhi Capitals links
Matt Roller
Hampshire confirmed they were “fully engaged in some detailed negotiations” with potential investors after Telegraph reported that GMR Group, the co-owners of the Delhi Capitals, are in advanced talks with Rod Bransgrove to buy his stake in the club’s parent company.
Bransgrove, who rescued Hampshire from insolvency in 2000, stepped down as chairman of the cricket club last year and was succeeded by Nick Pike. But Bransgrove remains the chairman of – and majority shareholder in – Hampshire Sport & Leisure Holdings Ltd, the club’s parent company.
In buying the club, Bransgrove turned Hampshire from a members’ club into a joint-stock company valued at more than £100m but with a debt of £61m. In the biography Back from the brink by Ivo Tennant, Bransgrove said he had rejected a substantial offer for the club in 2022 from a “very successful businessman”.
The Telegraph reported on Wednesday evening that Bransgrove was “close to reaching a deal” to sell its stake to GMR Group, which along with JSW Group runs Delhi Capitals. GMR Group also owns the Dubai Capitals in the UAE’s ILT20 and is part owner of the Seattle Orcas in the Premier Cricket League.
“Hampshire Sport & Leisure Holdings Ltd has made no secret of the fact that it has been exploring a number of investment options for some time and in the course of these investigations the Company has contacted a number of parties on the condition of confidentiality,” a Hampshire spokesman said.
“While it is true that the Company is fully engaged in some detailed negotiations regarding the investments, the nature and content of any such investigations are subject to formal non-disclosure agreements that the Company is required to abide by.”
“To date, we have not entered into any formal binding agreements other than the NDA. We therefore reiterate that we cannot comment further on the status of our negotiations until we have more to disclose.”
The discussions coincide with other talks about the prospects for private investment in English cricket and the ECB’s ongoing review of the future of the Hundred. “There is significant money in the game now, especially in the subcontinent,” Pike told ESPNcricinfo this week. “If we don’t recognize that, then we’re playing with our eyes and ears closed.”
One proposal that has been widely discussed around the Hundred involves the ECB transferring ownership stakes in the eight teams to the clubs that play at their home venues. If this proposal is approved, Hampshire’s parent company will take control of Southern Brave, which is based at the Ageas Bowl.
Hampshire were previously linked with Rajasthan Royals as part of a commercial tie-up called ‘Royals2020’ which started in 2010 but proved short-lived. They spent four seasons playing as Hampshire Royals in T20 cricket but dropped the name in 2013 and have since reverted to Hampshire Hawks.
Gordon Hollins, Somerset’s outgoing chief executive, outlined the backdrop of support for private investment among several counties at a members’ forum late last year. “The big question that is being asked around [English] the game is: in a world of flat income, high inflation and rising costs, how do we generate more investment in the game?” Hollins said.
GMR Group were approached for comment, while Bransgrove declined to comment.
Matt Roller is an assistant editor at ESPNcricinfo. @mroller98
