Shoosmiths advises on landmark acquisition of Hampshire Sport & Leisure Holdings Limited
November, 2024 - Milton Keynes, England
Shoosmiths advised on the phased acquisition of Hampshire Sport & Leisure Holdings Limited by GMR Global Pte Ltd, marking the first foreign ownership in English Cricket.
Shoosmiths has advised Rod Bransgrove and the majority sellers of Hampshire Sport & Leisure Holdings Limited, owner of the Utilita Bowl site and Hampshire Cricket, on a phased acquisition which will see GMR Global Pte Ltd (GMR), take an immediate majority stake and aim to complete a 100% takeover in the next two years.
Hampshire Sport & Leisure Holdings Limited, signed and exchanged definitive agreements with GMR, marking the start of a significant strategic partnership. The takeover brings foreign ownership into English Cricket for the first time and marks a crucial juncture for its commercialisation, as the Raine Group and ECB push forward to auction the Hundred franchises.
Rod Bransgrove said: “This is the fulfilment of a dream for me and, I hope, for all Hampshire Cricket supporters. Beyond our team’s accomplishments on the field over the past 24 years, we have transformed our stadium into a premier Test Match and events venue and one of the most exceptional cricket and leisure facilities in the country. We have also been pioneers in the development of women’s cricket and have consistently innovated throughout this relatively short history. We chose Richard and the team at Shoosmiths to advise given their experience on similar projects. They have been instrumental in helping us get this deal across the line and we very much enjoyed working with them.”
Partner Richard Millington commented: “It was a pleasure to advise on this landmark transaction in cricket. The sale reflects the hard work and dedication of the entire team, and we're thrilled to have played our role. It serves as yet another example of our work as lead legal advisors for investment projects in sport.”
Partner Richard Millington led on the project, with lawyers from across Shoosmiths’s divisions working together over the past year to help deliver the acquisition.
