Hampshire has been warned they could be blocked from taking control of Southern Brave if the prospective new owners, Delhi Capitals, fail to offer a fair market value for the Hundred franchise.
In a significant move that could also impact Yorkshire, currently in takeover discussions with Sunrisers Hyderabad, the England and Wales Cricket Board (ECB) has informed counties that it will not transfer its 51 percent stake in the related Hundred team if the remaining 49 percent does not achieve a sufficient price in the auction.
There is also a threat of Hampshire losing their Hundred team entirely, with the possibility of the Southern Brave franchise being relocated to another region if Delhi attempts to enter the competition at a reduced price.
“The ECB has robust measures in place to stop carpetbaggers,” a source reported.
“This is not a buy-one-get-one-free process. The Hundred franchise could be taken elsewhere if necessary.”
Hampshire has agreed to a £120 million deal to sell the club to Delhi Capitals’ owners, GMR Group, raising concerns at Lord’s that the Indian company may be attempting to gain control of a Hundred franchise at a reduced price.
The ECB is selling 49 percent of the eight Hundred franchises to private investors, with the remaining 51 percent to be transferred to the host venues, including Hampshire.
However, in recent discussions with the ECB, Hampshire was informed that they will only receive their 51 percent stake in Southern Brave after the sales process is completed, and only if the ECB secures fair market value for their 49 percent share.
The valuation will be conducted by American bank Raine Group, with the threat of relocating Southern Brave still on the table if Hampshire’s new owners do not comply.
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Name of Author: Cricexec Staff
