Rod Bransgrove has stepped down from his role as Hampshire chairman, following the completion of the takeover by GMR Global, the English county cricket side announced on Wednesday.
The 76-year-old businessman saved the county from financial collapse when he bought the club in 2000, and led the move to the Rose Bowl from Hampshire's old Northlands Road headquarters in Southampton.
Bransgrove has long campaigned for the Rose Bowl to stage a test against Australia and his dream will be realised during the 2027 Ashes in England.
GMR, who co-own Indian Premier League franchise Delhi Capitals, have now finalised the staged acquisition of the Hampshire Sport and Leisure Holdings Group, a process that began in 2024.
GMR's Kiran Kumar Grandhi will take over from Bransgrove, who becomes honourary life president and a director on the board.
"This moment brings to a close a chapter that has meant more to me than words can express," said Bransgrove.
"What we have built at Hampshire has been a collective effort, driven by incredible people, loyal supporters and partners who believed in a shared vision."
He added: "I have immense pride in what we have achieved here and unequivocal confidence that, under GMR's full ownership, the club and venue are in the safest of hands. The future is incredibly exciting, and I will be watching closely."
Grandhi, meanwhile paid tribute to Bransgrove's "extraordinary leadership and vision", saying GMR were "excited to build on the remarkable legacy that has been established here, investing in long-term growth and innovation".