“They haven’t actually got their hands on (Southern Brave) yet. The plan proposed by the ECB hasn’t been finalised or completed,” said Bransgrove, who will remain as Hampshire chairman for at least two more years.

“The agreement is not contingent on that happening. If it does happen then there will be an additional payment, but we still wait and see because although it is a proposal, it’s not yet cast in stone.”

He added that GMR “may well be” one of several bidders for the remaining 49% share, the sales of which will be overseen by the ECB and appointed advisors the Raine Group and Deloitte.

“GMR are fully aware that it can’t be sold for below market rate,” added Bransgrove. “It’s beyond our gift, but that certainly would be an intention of GMR.”