Delhi Capitals co-owner buys stake in Hampshire County Cricket Membership. (Picture: Ben Hoskins/Getty Photographs for Surrey CCC)

GMR Group, the co-owner of IPL franchise Delhi Capitals, has struck a historic cope with England’s county cricket workforce Hampshire. In actual fact, GMR Group has purchased 49 p.c stake in Hampshire. In keeping with a Instances of India report, the group has spent Rs 1200 crore for this. That is the primary time within the historical past of England cricket {that a} overseas investor has invested cash. GMR Group has additionally been given the choice to purchase the remaining 51 p.c stake sooner or later. Together with shopping for stake in Hampshire, GMR Group will now additionally personal the Utilita Bowl (South Bowl) floor, Hilton Resort and 18 gap golf course. The group additionally has stakes in Seattle Orcas in America’s Main League Cricket and Dubai Capitals in UAE’s ILT20.

Why did ECB promote its stake?

The England Cricket Board has been dealing with monetary disaster in county cricket for a very long time. To cope with this, the board has determined to go for privatisation. For this, 18 groups of county cricket have given their consent. Beneath this technique, to start with the stakes of the groups current in The Hundred League shall be offered.

In keeping with the Instances of India report, sources associated to the ECB stated that the IPL franchises have cash and so they need to purchase stakes in county groups. In such a scenario, the England Cricket Board has an enormous alternative to beat the scarcity of cash.

GMR Group Secures 49% Stake in Hampshire (English County Membership) with the choice to accumulate the remaining 51% sooner or later.

– The deal is valued at roughly Rs 1200 crore. (TOI) pic.twitter.com/Kg4AVc10WY

— Sports activities With Naveen (@sportscey) September 17, 2024

Rajasthan Royals wished to purchase Yorkshire County Cricket Membership final yr. However the deal couldn’t be agreed upon. Sunrisers Hyderabad and Lucknow Tremendous Giants franchises have tried their luck however issues didn’t work out.

The format of The Hundred could change

After this deal of GMR Group, the doorways have been opened for different franchises in England’s county golf equipment. It’s anticipated that this can enhance the curiosity of overseas buyers. Alternatively, there may be additionally discuss of fixing the format of The Hundred League. At present, this league is of 100-100 balls however it may be modified to T20 format.