GMR Group, co-owner of IPL team Delhi Capitals, has signed a great deal of Rs 1200 crore with English county cricket team Hampshire and acquired 49% stake. This deal is the first time that a foreign investor has entered English county cricket. Let us tell you that, GMR Group will currently hold 49% stake in Hampshire, but in future they will have the option to acquire 51% stake.

Block buster deal has been signed for Rs 1200 crore

This new partnership gives GMR control over the Utilita Bowl, the Hilton Hotel and the 18-hole golf course adjacent to the cricket ground. GMR’s growing portfolio in cricket already includes teams from the IPL, ILT20 in the UAE and Major League Cricket in the USA.

Earlier this year, the England Cricket Board (ECB) received approval from the 18 first-class counties for privatisation. GMR Group’s investment in Hampshire is the first instance of an IPL franchise investing in an English county cricket team. The ECB is looking for financial stability, and the privatisation of The Hundred is part of this strategy.

These IPL franchises have shown interest in English County

Other IPL franchises like Rajasthan Royals, Kolkata Knight Riders, Mumbai Indians and Lucknow Supergiants have shown interest in English county cricket. A source was quoted as saying,

“There will be a lot of interest from the IPL franchises as they have the money and this is a golden opportunity for the ECB to achieve the long-desired financial stability.”

There may be a change in the format of The Hundred

There are reports that discussions are underway about possibly changing the format of The Hundred, with the tournament’s branding expected to remain unchanged. But a change to the T20 format is considered a strong possibility, although no decision has been taken yet.