Saturday, May 18, 2024

Hampshire verify talks over potential IPL possession


Hampshire have confirmed they’re “absolutely engaged in some detailed negotiations” with potential traders after the Telegraph reported that GMR Group, the co-owners of Delhi Capitals, are in superior talks with Rod Bransgrove about shopping for his share within the membership’s father or mother firm.

Bransgrove, who saved Hampshire from insolvency in 2000, stood down as chair of the cricket membership final 12 months and has been succeeded by Nick Pike. However Bransgrove stays the chair of – and the bulk shareholder in – Hampshire Sport & Leisure Holdings Ltd, the membership’s father or mother firm.

Upon shopping for the membership, Bransgrove turned Hampshire from a members’ membership right into a public restricted firm, which is valued at over £100 million however carries a debt of £61 million. Within the biography Again from the Brink by Ivo Tennant, Bransgrove stated that he had turned down a considerable supply for the membership in 2022 from “a really profitable businessman”.

The Telegraph reported on Wednesday night time that Bransgrove is “near agreeing a deal” to promote his shares to GMR Group, who together with JSW Group run Delhi Capitals. GMR Group additionally personal Dubai Capitals within the UAE’s ILT20 and are part-owners of Seattle Orcas in Main League Cricket.

“Hampshire Sport & Leisure Holdings Ltd has made no secret of the truth that it has been investigating various funding choices for a while now and, in the midst of these investigations, the Firm has engaged with various events beneath circumstances of confidentiality,” a Hampshire spokesperson stated.

“While it’s true that the Firm is absolutely engaged in some detailed negotiations concerning funding, the character and content material of any such investigations are topic to formal Non-Disclosure Agreements which the Firm is certain to watch.

“Up to now, we have now concluded no formal binding agreements apart from NDAs. We repeat, subsequently, we will make no additional remark in regards to the standing of our negotiations till such time as we have now one thing to reveal.”

One proposal being mentioned extensively across the Hundred includes the ECB transferring fairness stakes within the eight groups to the golf equipment that play at their host venues. If that proposal is permitted, Hampshire’s father or mother firm would then take management of Southern Courageous, who’re based mostly on the Ageas Bowl.

Hampshire had been beforehand linked with Rajasthan Royals as a part of a industrial tie-in named ‘Royals2020’ which launched in 2010 however proved short-lived. They spent 4 seasons enjoying as Hampshire Royals in T20 cricket however dropped the identify in 2013 and have since reverted to being Hampshire Hawks.

Gordon Hollins, Somerset’s departing chief govt, outlined the background to assist for personal funding amongst a number of counties at a members’ discussion board late final 12 months. “The large query that is being requested across the [English] recreation is: in a world of flat earnings, excessive inflation and rising prices, how can we generate extra funding within the recreation?” Hollins stated.

Bransgrove and GMR Group had been contacted for remark.

Read more

Latest News