This happened for the first time in the history of England cricket, the owner of this IPL franchise bought a stake in a county team by investing 1200 crores.

GMR Group, the co-owner of IPL franchise Delhi Capitals, has struck a historic deal with England's county cricket team Hampshire. GMR Group has bought a 49 percent stake in Hampshire. According to a Times of India report, the group has spent Rs 1200 crore for this. This is the first time in the history of England cricket that a foreign investor has invested money. GMR Group has also been given the option to buy the remaining 51 percent stake in the future. Along with buying a stake in Hampshire, GMR Group will now also own the Utilita Bowl (South Bowl) ground, Hilton Hotel, and 18-hole golf course. The group also has stakes in Seattle Orcas in America's Major League Cricket and Dubai Capitals in UAE's ILT20.

Why did ECB sell its stake?

The England Cricket Board has been facing a financial crisis in county cricket for a long time. To deal with this, the board has decided to go for privatization. For this, 18 teams of county cricket have given their consent. Under this strategy, first of all, the stakes of the teams present in The Hundred League will be sold.

According to the Times of India report, sources related to the ECB said that the IPL franchises have money and they want to buy stakes in county teams. In such a situation, the England Cricket Board has a big opportunity to overcome the shortage of money.

Rajasthan Royals wanted to buy Yorkshire County Cricket Club last year. But the deal could not be agreed upon. Sunrisers Hyderabad and Lucknow Super Giants franchises have tried their luck but things did not work out.

The format of The Hundred may change.

After this deal with GMR Group, the doors have been opened for other franchises in England's county clubs. It is expected that this will increase the interest of foreign investors. On the other hand, there is also talk of changing the format of The Hundred League. Currently, this league consists of 100-100 balls but it can be changed to T20 format.