GMR chairman Kiran Kumar Grandhi with Hampshire head Rod Bransgrove at the time of signing the landmark deal. Also seen are PKSV Sagar, the president of GMR Sports Venture Pvt Ltd, the county chairman David Mann ©Delhi Capitals
For the first time since acquiring Hampshire County in October 2024, the GMR Group - the co-owners of the Delhi Capitals in the Indian Premier League (IPL) and owners of the Dubai Capitals in the ILT20 - have spoken out about their expansion. Its plans also extend to Australia, with a potential deal involving New South Wales, but the completed Hampshire acquisition has taken the world cricket fraternity by surprise.
It was a surprise because of the traditionally conservative nature of English cricket, which has been resolutely closed to business partnerships for years. The England and Wales Cricket Board (ECB) has recently initiated steps to privatise The Hundred - taking a cue from the IPL business model - but the English counties are not necessarily known to entertain private companies and partnerships.
In such a backdrop, the GMR-Hampshire pact was seen as a game-changing move and the Indian firm thinks it makes for a strong business and cricketing sense. "If you look at it from our perspective, this could evolve into a much larger global cricketing ecosystem. We have access to a substantial talent pool, and the possibilities for the future are immense. While nothing is finalized yet, the potential is enormous," PKSV Sagar, the president of GMR Sports Ventures Pvt Ltd, tells Cricbuzz. The deal included approximately 190 acres of real estate expanse, a five-star hotel, an 18-hole golf course, and additional land earmarked for development.
In October, GMR acquired 56 percent of Hampshire's shares, with the remaining 44 per cent to be secured by September 2026, by when the takeover will be complete. The deal took 18 months to finalize and Hampshire's status as a privately owned county came in handy. Hampshire, incidentally, are one of the two privately owned counties in England, Durham being the other.
While the surprise element stays true, the critical question is: what are the gains for the Indian firm from the landmark expansion? "Significant," quips Sagar. Being an infrastructure company itself, GMR sees tremendous value in the 190-odd acres of lush, green prime land in Southampton, a vibrant city in the south coast of England with a rich maritime history and thriving economy. UK-based real estate consultancy Knight Frank has conservatively projected the value appreciation by 2.5 per cent in 2025, three per cent in 2026 and 3.5 per cent in 2027 - an alluring prospect for future development. By the time the deal is complete, the value would have been up by close to six per cent. There are also significant cricketing benefits. Hampshire boasts eight teams, including in The Hundred, that compete in all the ECB-affiliated competitions, offering a vast pool of players.
Despite having the majority-holdings, GMR has chosen to maintain the status quo and keep the control with the present management. "We don't want to reinvent the wheel," says Sagar. Rod Bransgrove, the enterprising chairman of the country, will continue in his role, with the CEO David Mann's position remaining unchanged.
"They will continue with their current approach, but we'll introduce an exchange of ideas and strategies to help take the country to the next level. Additionally, with GMR's franchises in Delhi Capitals, Seattle Orcas, and Dubai Capitals all parts of the world, the ultimate goal is to create a global cricketing ecosystem."
The Group plans to introduce exchange programmes, where players from one of their teams will train in another country. "We'll begin with straightforward exchange programmes," says the official. "Our long-term goal is to develop facilities in India as well, leveraging our expertise. We're an infrastructure company so sports infrastructure could naturally become a part of that."
The deal is not without challenges, of course. They will need to operate a hotel, located right on the edge of the boundary line of the Southampton ground. The vast golf course has to be managed professionally and there are about 300 staff to be looked after. "Bringing all of this together and integrating it into the GMR system is a significant challenge, especially since we will own 100 per cent of the operation in two years. In addition to that, we are actively exploring opportunities for building sports infrastructure in India," Sagar, who was in Dubai with owner Kiran Kumar Grandhi for the launch of Season 3 of ILT20, says.
There are sources of income if not exactly in abundance of cash flow. The grants from the parent body, the ECB, will come as ever and there are avenues to monetise. "Yes, like any other county, the ECB grant is there," Sagar confirms. "The ECB has approved the ownership transfer. So, nothing changes at that level. We are just like any other county." The grants may not exactly be self-sufficient for running the operations of the county but there are other revenue streams, like hosting matches, sponsorships, and events at the ground." Private events, like concerts, happen about five times a year at the Southampton ground. Last month, there was a drone show which apparently was well-attended.
The seeds of the mega deal were sown when two 'like-minded individuals' came together. "This was originally owned by Rod, who is an exceptional person. Twenty years ago, Hampshire was on the brink of bankruptcy. At the time, he was running a pharmaceutical business and invested his own money into the club. His passion for the game drove him to take the club from where it was then to where it is today, having built one of the best international grounds.
"After accomplishing that, he reached a stage in life where he no longer wished to continue. He sought a like-minded partner - someone who shared his values, including a commitment to social development in the local area. When he met our chairman, GM Rao and other family members (Bomidala Srinivas and Grandhi), they realized they were on the same page. It was clear that an aligned association was the right path forward. That's how the first stage of the process began. After 18 months of discussions, here we are, having signed the deal in October last year.
The GMR official, Sagar, with Hemang Badani, the head coach of Delhi and Dubai Capitals sides
The GMR official, Sagar, with Hemang Badani, the head coach of Delhi and Dubai Capitals sides ©BCCI
Sagar explains the process they follow before acquiring a property. "As an entity for sports we have a general vision that we would like to explore opportunities in multiplayer franchises in India. And if there are any opportunities outside India, we want to limit it to cricket for the moment. We will not keep buying anything and everything.
"At GMR, we have a very strategically planned robust approval process involving the top promoters of the company, including founder Mr. GM Rao." Sagar says. "We evaluate the sport, we evaluate a business opportunity. Then within sports we discuss whether it's a good opportunity to take it forward. It is decided by all members of the board." The group is launching a rugby league later this year and holding a global sports conference in Delhi on March 7 and 8.
Premature, GMR on NSW deal
GMR would not confirm that they are engaging with Cricket New South Wales in a business deal, as reported by Cricbuzz on January 4 but would not deny either? "An opportunity came up to be in Sydney, so we went to see the Test (fifth and final Border-Gavaskar Trophy Test at the SCG). We got introduced to various people during the match and we just went around and saw what was there. They (NSW officials) told us, 'why don't you see the facilities? So we went around and looked at the facilities'. But otherwise everything else that's being talked about is premature," the GMR honcho says.
"So even to conclude that anything will come out of it is speculative." Specifically asked if the group is open to a business engagement with NSW, the reply was not categorical. "We are honestly all over the world. Like I said, our vision is cricket outside India. We would analyze if something comes up in due course."
For the first time since acquiring Hampshire County in October 2024, the GMR Group - the co-owners of the Delhi Capitals in the Indian Premier League (IPL) and owners of the Dubai Capitals in the ILT20 - have spoken out about their expansion. Its plans also extend to Australia, with a potential deal involving New South Wales, but the completed Hampshire acquisition has taken the world cricket fraternity by surprise.
It was a surprise because of the traditionally conservative nature of English cricket, which has been resolutely closed to business partnerships for years. The England and Wales Cricket Board (ECB) has recently initiated steps to privatise The Hundred - taking a cue from the IPL business model - but the English counties are not necessarily known to entertain private companies and partnerships.
In such a backdrop, the GMR-Hampshire pact was seen as a game-changing move and the Indian firm thinks it makes for a strong business and cricketing sense. "If you look at it from our perspective, this could evolve into a much larger global cricketing ecosystem. We have access to a substantial talent pool, and the possibilities for the future are immense. While nothing is finalized yet, the potential is enormous," PKSV Sagar, the president of GMR Sports Ventures Pvt Ltd, tells Cricbuzz. The deal included approximately 190 acres of real estate expanse, a five-star hotel, an 18-hole golf course, and additional land earmarked for development.
In October, GMR acquired 56 percent of Hampshire's shares, with the remaining 44 per cent to be secured by September 2026, by when the takeover will be complete. The deal took 18 months to finalize and Hampshire's status as a privately owned county came in handy. Hampshire, incidentally, are one of the two privately owned counties in England, Durham being the other.
While the surprise element stays true, the critical question is: what are the gains for the Indian firm from the landmark expansion? "Significant," quips Sagar. Being an infrastructure company itself, GMR sees tremendous value in the 190-odd acres of lush, green prime land in Southampton, a vibrant city in the south coast of England with a rich maritime history and thriving economy. UK-based real estate consultancy Knight Frank has conservatively projected the value appreciation by 2.5 per cent in 2025, three per cent in 2026 and 3.5 per cent in 2027 - an alluring prospect for future development. By the time the deal is complete, the value would have been up by close to six per cent. There are also significant cricketing benefits. Hampshire boasts eight teams, including in The Hundred, that compete in all the ECB-affiliated competitions, offering a vast pool of players.
Despite having the majority-holdings, GMR has chosen to maintain the status quo and keep the control with the present management. "We don't want to reinvent the wheel," says Sagar. Rod Bransgrove, the enterprising chairman of the country, will continue in his role, with the CEO David Mann's position remaining unchanged.
"They will continue with their current approach, but we'll introduce an exchange of ideas and strategies to help take the country to the next level. Additionally, with GMR's franchises in Delhi Capitals, Seattle Orcas, and Dubai Capitals all parts of the world, the ultimate goal is to create a global cricketing ecosystem."
The Group plans to introduce exchange programmes, where players from one of their teams will train in another country. "We'll begin with straightforward exchange programmes," says the official. "Our long-term goal is to develop facilities in India as well, leveraging our expertise. We're an infrastructure company so sports infrastructure could naturally become a part of that."
The deal is not without challenges, of course. They will need to operate a hotel, located right on the edge of the boundary line of the Southampton ground. The vast golf course has to be managed professionally and there are about 300 staff to be looked after. "Bringing all of this together and integrating it into the GMR system is a significant challenge, especially since we will own 100 per cent of the operation in two years. In addition to that, we are actively exploring opportunities for building sports infrastructure in India," Sagar, who was in Dubai with owner Kiran Kumar Grandhi for the launch of Season 3 of ILT20, says.
There are sources of income if not exactly in abundance of cash flow. The grants from the parent body, the ECB, will come as ever and there are avenues to monetise. "Yes, like any other county, the ECB grant is there," Sagar confirms. "The ECB has approved the ownership transfer. So, nothing changes at that level. We are just like any other county." The grants may not exactly be self-sufficient for running the operations of the county but there are other revenue streams, like hosting matches, sponsorships, and events at the ground." Private events, like concerts, happen about five times a year at the Southampton ground. Last month, there was a drone show which apparently was well-attended.
The seeds of the mega deal were sown when two 'like-minded individuals' came together. "This was originally owned by Rod, who is an exceptional person. Twenty years ago, Hampshire was on the brink of bankruptcy. At the time, he was running a pharmaceutical business and invested his own money into the club. His passion for the game drove him to take the club from where it was then to where it is today, having built one of the best international grounds.
"After accomplishing that, he reached a stage in life where he no longer wished to continue. He sought a like-minded partner - someone who shared his values, including a commitment to social development in the local area. When he met our chairman, GM Rao and other family members (Bomidala Srinivas and Grandhi), they realized they were on the same page. It was clear that an aligned association was the right path forward. That's how the first stage of the process began. After 18 months of discussions, here we are, having signed the deal in October last year.
The GMR official, Sagar, with Hemang Badani, the head coach of Delhi and Dubai Capitals sides
The GMR official, Sagar, with Hemang Badani, the head coach of Delhi and Dubai Capitals sides ©BCCI
Sagar explains the process they follow before acquiring a property. "As an entity for sports we have a general vision that we would like to explore opportunities in multiplayer franchises in India. And if there are any opportunities outside India, we want to limit it to cricket for the moment. We will not keep buying anything and everything.
"At GMR, we have a very strategically planned robust approval process involving the top promoters of the company, including founder Mr. GM Rao." Sagar says. "We evaluate the sport, we evaluate a business opportunity. Then within sports we discuss whether it's a good opportunity to take it forward. It is decided by all members of the board." The group is launching a rugby league later this year and holding a global sports conference in Delhi on March 7 and 8.
Premature, GMR on NSW deal
GMR would not confirm that they are engaging with Cricket New South Wales in a business deal, as reported by Cricbuzz on January 4 but would not deny either? "An opportunity came up to be in Sydney, so we went to see the Test (fifth and final Border-Gavaskar Trophy Test at the SCG). We got introduced to various people during the match and we just went around and saw what was there. They (NSW officials) told us, 'why don't you see the facilities? So we went around and looked at the facilities'. But otherwise everything else that's being talked about is premature," the GMR honcho says.
"So even to conclude that anything will come out of it is speculative." Specifically asked if the group is open to a business engagement with NSW, the reply was not categorical. "We are honestly all over the world. Like I said, our vision is cricket outside India. We would analyze if something comes up in due course."