Mumbai Indians owners buy stake in The Hundred's Oval Invincibles: Report

Reliance Industries Limited (RIL), the owner of the IPL franchise Mumbai Indians, has reportedly acquired a 49 percent stake in the Oval Invincibles franchise in The Hundred. The Oval Invincibles men's team is the reigning champion of The Hundred, having won the title twice, while their women's team claimed the championship in both 2021 and 2022.

Reliance Industries outbid both CVC Capital and a consortium of Silicon Valley entrepreneurs in the bidding process. The winning bid reportedly values the franchise at 123 million pounds, meaning RIL will pay just over 60 million pounds for its 49% stake.

Following the acquisition, Oval Invincibles will become the sixth team under RIL’s management, joining Mumbai Indians (IPL and WPL), MI New York (MLC), MI Cape Town (SA20), and MI Emirates (ILT20).

Mukesh Ambani, the Mumbai-based billionaire and owner of the Reliance Industries Limited (RIL) conglomerate, spearheaded the acquisition. Ambani, the richest man in Asia, has been expanding his cricket portfolio, with Mumbai Indians' subsidiaries featuring in leagues around the world, including IL T20 in the UAE (MI Emirates), SA20 in South Africa (MI Cape Town), and Major League Cricket in the US (MI NY).

It was widely speculated that the Ambanis



were targeting one of the London-based teams, with Lord's-based London Spirit also being considered. Ultimately, they focused their attention on the Oval Invincibles, whom they could potentially own outright or in a controlling capacity if Surrey County Cricket Club, which holds a 51 percent stake, decides to divest its share in the future.

"RIL were widely linked with buying a stake in London Spirit, the Hundred team based at Lord's, but moved their focus towards the Invincibles as the sales process went on," the report said.

"Host venues were given the option to sell some of the 51% stake that they will be gifted by the ECB as part of the privatisation process. However, according to the report Surrey have held firm on their stance that they will retain their controlling shares."

The final auctions for the eight Hundred teams mark the conclusion of a sales process that commenced in September. The ECB has opted for a phased sale approach, allowing unsuccessful bidders to re-enter the fray for remaining teams. On Friday, the auction will proceed with two more franchises—London Spirit and Cardiff-based Welsh Fire. The process will resume next week with bids for the final four teams: Manchester Originals, Northern Superchargers, Trent Rockets, and Southern Brave.