MUMBAI: This is one cross-border planned acquisition – and that too relating to the most important sport in India: cricket. GMR Global Pte Ltd (GGPL) has signed and exchanged definitive agreements with Hampshire Sport & Leisure Holdings Ltd (HS&LHL), owner of the Utilita Bowl site and Hampshire Cricket, marking the start of a significant strategic partnership.
The agreement outlines the phased acquisition of HS&LHL’s entire issued share capital by GGPL, and an initial reduction of the former’s debt, setting the stage for long-term growth and financial sustainability.
As part of the agreement, GGPL will initially acquire a majority stake in HSL&HL, with the completed acquisition of 100 per cent ownership expected within the next 24 months. This transaction represents GGPL’s broader vision of investing in global sports assets through its overseas platform under the GMR group.
GGPL is part of the GMR group, a multi-diversified Indian conglomerate founded in 1978, headquartered in New Delhi, India, with a global presence. GMR group operates across various sectors, including infrastructure, airports, power, and sports, and has contributed towards corporate social responsibility through initiatives in rural development, education, health, and skill development.
This acquisition is designed to strengthen HS&LHL’s financial position, including Hampshire Cricket, and will include a material injection of capital to reduce the leveraging of the group.
GGPL has committed to furthering the development of Hampshire’s cricket teams and pathways, as well as enhancing the multi-sports and leisure facilities at the Utilita Bowl, including the stadium, hotel, and golf course. The company has emphasised the importance of respecting the traditions and culture of the game in England and Wales.
The principal terms and conditions of this agreement were formally agreed upon by the parties a year ago, with the enterprise value set at a fair market valuation. This valuation included all existing assets as well as providing incentives for HS&LHL shareholders by way of additional consideration for possible future assets.
Under the new ownership structure, Hampshire’s existing leadership team will remain in place. Rod Bransgrove will continue as group chairman until at least 30 September 2026, and David Mann will retain his role as group CEO. Together, they will work with GGPL to develop short, medium, and long-term strategies for the consistent growth of the club and its operations.
Both organisations view this acquisition as a landmark partnership, one that will drive the expansion of HS&LHL’s sports infrastructure and community engagement. The collaboration promises to bolster the relationship between India and the UK, while also enhancing opportunities for growth within Hampshire’s cricket community and beyond.
In particular, the agreement provides an opportunity to execute the masterplan for the Utilita Bowl site development, leveraging GMR’s global expertise and manpower. The goal is to foster the growth of both brands while maintaining financial stability and a shared belief in mutual success.
The GMR group, a leading global infrastructure company, has significantly impacted the sports industry. Established in 2008, the sports business of GMR launched the Delhi Daredevils, the first IPL franchise from India’s capital. Currently, it holds a 50 per cent stake in the Delhi Capitals (IPL and WPL), the Dubai Capitals (ILT20) and the Pretoria Capitals (SA20). The sports division has expanded its portfolio to include franchises in the Pro Kabaddi League and Ultimate Kho Kho League, promoting indigenous sports in India. Additionally, the sports division of GMR has invested in the Seattle Orcas team in the US Major League Cricket.
