Delhi Capitals co-owners GMR Group have finalised a deal to takeover the County Championship runners-up, making Hampshire the first foreign-owned English county.

GMR will acquire 48 per cent of the club’s parent company, before acquiring the remaining 52 per cent of shares in September 2026.

“We feel it’s a deal where there are no losers, only winners and we’re very excited,” said Rod Bransgrove, chairman of Hampshire Sport & Leisure Holdings Group.

Set to remain as chairman of Hampshire Cricket Club until at least September 2026, he said at a press conference on Monday: “I think this is a landmark occasion in English cricket.

“The club was bankrupt in 2000 and now I think you would look at Hampshire Cricket and say this is one of the biggest and best clubs in the country.

“We’ve created an organisation which has an enterprise value of something approaching £120m. I’m absolutely certain we will not be the last to go down this route.”

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With the takeover reported to be in the region of £120m, Bransgrove, who was chairman of the county cricket side for more than two decades before standing down last year, said: “There’s been speculation approaching that sum and it’s not far off that.”

With Hampshire hosting an Ashes Test match between England and Australia in 2027, Bransgrove said the GMR takeover would help the club “consolidate its place” at the top table of English cricket.

He hinted at improvements which could be coming to the club’s ground.

He said: “In respect of the Utilita Bowl, this is probably the major beneficiary which will ultimately benefit all of the other businesses because having got to the top table of Test match cricket with an Ashes Test in 2027, our major concern now must be to consolidate that position and to expand it.

“We’ve got work to do – although we’re the newest ground we are 24 years old – and some things are beginning to crack a bit.

“There’s work to be done in and around the ground, there’s car parks to be rebuilt and various other aspects that need to be addressed prior to 2027 and hopefully with GMR behind us, we’ll be able to raise the capital to get that work done much more quickly than we would normally have done.”