Hampshire has confirmed that they are “fully involved in some detailed negotiations” with potential investors after the Telegraph reported that GMR Group, the co-owners of Delhi Capitals, are in advanced talks with Rod Bransgrove over buying his stake in the parent company of the club.

Bransgrove, who saved Hampshire from insolvency in 2000, resigned as chairman of the cricket club last year and was succeeded by Nick Pike. But Bransgrove remains the chairman and majority shareholder of Hampshire Sport & Leisure Holdings Ltd, the club’s parent company.

By purchasing the club, Bransgrove converted Hampshire from a members’ club into a public limited company, valued at over £100 million but with debt of £61 million. In Ivo Tennant’s biography Back from the Brink, Bransgrove said he had turned down a major offer for the club in 2022 from “a very successful businessman”.

The Telegraph reported on Wednesday night that Bransgrove is “close to a deal” to sell its shares to GMR Group, which along with JSW Group runs Delhi Capitals. GMR Group also owns Dubai Capitals in the UAE’s ILT20 and co-owns Seattle Orcas in Major League Cricket.

“Hampshire Sport & Leisure Holdings Ltd has made no secret of the fact that it has been investigating a number of investment options for some time and, in the course of these investigations, the Company has interacted with various parties under conditions of confidentiality.”, a Hampshire spokesperson said.

“While it is true that the Company is fully involved in some detailed investment negotiations, the nature and content of such investigations are subject to formal confidentiality agreements that the Company is obliged to observe.

“To date, we have not concluded any formal binding agreements other than NDAs. We therefore repeat that we cannot comment further on the status of our negotiations until we have something to disclose.”

A proposal being discussed at length around the Hundred involves the ECB transferring equity stakes in all eight teams to clubs playing at their host venues. If that proposal is approved, Hampshire’s parent company would take control of Southern Brave, which is based at the Ageas Bowl.

Gordon Hollins, Somerset’s outgoing chief executive, outlined the background to support for private investment across various counties at a members’ forum late last year. “The big question asked around the world [English] gaming is: in a world of flat incomes, high inflation and rising costs, how do we generate more investment in gaming?” Hollins said.

Bransgrove and GMR Group have been contacted for comment.