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County Championship runners-up Hampshire have entered into a "phased acquisition" with the part-owners of Indian Premier League side Delhi Capitals.

The club have exchanged definitive agreements with GMR Global Pte Ltd (GGPL) as part of a "significant strategic partnership" - making them the first county to be owned by an overseas franchise.

Under the agreement, Indian conglomerate GMR is expected to complete a full takeover within two years.

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