Hampshire are in “advanced” talks with Delhi Capitals’ co-owners the GMR Group over a takeover of the County Championship club, BBC Sport understands.

Some national newspaper reports have suggested a £120m deal with GMR – which has wholly or joint-owned Indian Premier League side Capitals since the IPL’s inception in 2008 – has already been reached.

BBC Radio Solent understands, however, that no contract has yet been signed – but that Hampshire remain close to reaching an agreement with the group.

A source at Hampshire told BBC Radio Solent the deal could be completed within weeks and that talks have been in an advanced stage for quite some time.

Should the deal be completed, it would make Hampshire the first county to be owned by an overseas franchise. The purchase must be ratified by the England and Wales Cricket Board (ECB).

Hampshire Cricket’s majority shareholder is Rod Bransgrove – who arrived in 2000 when the club stood on the brink of bankruptcy.

Bransgrove’s investment helped Hampshire move from their 116-year home at Northlands Road in Southampton, to the Utilita Bowl on the edge of the city, and he has overseen a successful era at the club.

In 2023, it was announced that the businessman would be standing down as chairman after 23 years in that position.

That news came after it was revealed Hampshire would host an Ashes Test in 2027 – a long-term goal for Bransgrove.