GMR Group retains ownership of Hundred team Southern Brave
What's the story
Indian conglomerate GMR Group have retained their ownership of Hampshire-based Hundred team Southern Brave.
Notably, the group now owns a 49% stake in the team.
The move comes after their acquisition of Hampshire County and is expected to lead to full ownership of the team in due course.
Here's more.
Global presence
GMR Group's global cricket portfolio
The GMR Group isn't new to owning a cricket franchise.
They co-own the Indian Premier League (IPL) team Delhi Capitals and own stakes in various T20 leagues across the globe.
Their portfolio includes teams like the Pretoria Capitals in the SA20, Dubai Capitals in the ILT20, and the Seattle Orcas in MLC.
Indian ownership
Indian influence in ECB's Hundred tournament
With this latest acquisition, four IPL franchises now own teams in the tournament run by the England and Wales Cricket Board (ECB).
The teams are Oval Invincibles (Mumbai Indians), Manchester Original (Lucknow Super Giants), Northern Superchargers (Sunrisers Hyderabad), and Southern Brave.
Meanwhile, Indian-origin entrepreneurs also own London Spirit and Welsh Fire, highlighting India's growing influence in international cricket.
Financial success
The Hundred equity sale surpasses expectations
The Hundred equity sale has generated over £450 million, bringing its total valuation close to £1 billion.
Meanwhile, this outcome has exceeded initial projections and is set to provide a substantial boost to English cricket.
The GMR Group's retention of Southern Brave contributes to this successful equity sale.
Historic purchase
GMR Group's historic acquisition of Hampshire Cricket
Back in September last year, the GMR Group had scripted history by becoming the first international company to own an English-county cricket team.
They had first acquired a 49% stake in Hampshire Cricket County.
The group has now signed a deal to fully acquire Hampshire Sport & Leisure Holdings Limited (HSLHL), the parent company of Hampshire Cricket, over the next two years.