Delhi Capitals (DC), an Indian Premier League (IPL) franchise have reportedly agreed to a £120 million deal to buy Hampshire County club. This makes them the first-ever IPL franchise to own an English county club.

The Daily Telegraph reported that based on the terms of an agreement that has been passed to the England and Wales Cricket Board (ECB), the GMR Group, one of the owners of Delhi Capitals, will take full ownership of the English County Club Hampshire.

The Indian conglomerate will own a 51% stake in the Hundred franchise, Southern Brave, and will have an option of owning a complete 100% stake.

Former Hampshire chairman Rod Bransgrove, who led the club for 23 years, stepped down last year but still owns more than 60% of the shares. However, because Hampshire is one of three counties, along with Northamptonshire and Durham, that are not member-owned, Bransgrove was able to sell his stakes "without fan input."

The report also added that DC beat fellow IPL franchise Lucknow Super Giants with an offer of £120 million, which includes the club’s debts of around £60 million. Hampshire's value went up from £100 million during the process of negotiation, and the high valuation was due to their impressive international fixture list and strong ticket sales secured by owner Rod Bransgrove.

Hampshire was previously associated with Rajasthan Royals between 2010-2013 and participated in T20 cricket as Hampshire Royals.

GMR Group currently holds a 50 percent stake in Delhi Capitals across both the IPL and the Women's Premier League (WPL). They also own Dubai Capitals in the UAE's ILT20 and have a share in the USA's Major League Cricket side Seattle Orcas.