English County Championship club Hampshire have signed a "dream" takeover deal with GMR Group, co-owners of Indian Premier League cricket side Delhi Capitals.The club have exchanged definitive agreements with GMR as part of a "significant strategic partnership", making them the first county to be owned by an overseas franchise.<\/p>\r\n\r\n
Under the deal, ratified by the England and Wales Cricket Board (ECB), the Indian conglomerate acquires a majority stake and is expected to complete a 100 percent takeover within two years.<\/p>\r\n\r\n
Rod Bransgrove, chairman of Hampshire Sport and Leisure Holdings, said in a statement on Monday that the deal was the "fulfilment of a dream".<\/p>\r\n\r\n
"Becoming the first English cricket club to join an international cricket group will open exciting new opportunities as we embrace the globalisation of this great sport," he said.<\/p>\r\n\r\n
GMR owns a 50 percent stake in Delhi Capitals and in the Dubai Capitals and Pretoria Capitals, as well as investing in US Major League Cricket team the Seattle Orcas.<\/p>\r\n\r\n
Kiran Kumar Grandhi, corporate chairman of GMR Group, said: "Our vision is to transform sports into a platform that unites people and cultures, drives global excellence, and nurtures the creation of future world champions."<\/p>\r\n\r\n
ECB chief executive Richard Gould said the announcement "demonstrates the global interest in investing in cricket in England and Wales, and underlines the continuing appeal of county cricket".<\/p>\r\n\r\n