Reliance Industries Limited, owners of the Mumbai Indians franchise, have furthered their global cricket footprint by acquiring a 49% stake in Oval Invincibles, one of the premier teams in England’s The Hundred tournament. The deal was secured after a competitive bidding war involving US-based tech entrepreneurs and CVC Capital, the private equity firm that owns Gujarat Titans in the IPL.
The ECB has been actively seeking external investments to improve the financial sustainability of The Hundred and increase its global appeal. RIL, through an e-auction process, valued Oval Invincibles at about £123 million while agreeing to pay around £61 million for its minority stake.
Surrey County Cricket Club would maintain the majority 51% share of the deal, though this deal unlocks future avenues for expansion of RIL’s potential ownership. Oval Invincibles has impressed everyone by winning The Hundred’s men’s title in its first two seasons straight. The acquisition furthers Reliance’s strategy of investment into premier franchise cricket leagues around the globe.
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Mukesh Ambani’s company already owns teams across multiple leagues, including Mumbai Indians (IPL and WPL), MI Cape Town (SA20, South Africa), MI Emirates (ILT20, UAE), and MI New York (Major League Cricket, USA). With the addition of Oval Invincibles, RIL now manages six cricket teams across different continents.
Mumbai Indians gets Oval Invincibles franchise in the Hundred League. pic.twitter.com/Zf6yiGGg1j
— MI Fans Army™ (@MIFansArmy) January 31, 2025
The ECB is selling The Hundred franchises in phases, with RIL securing the first major deal. The next teams up for sale include London Spirit and Welsh Fire, followed by Manchester Originals, Northern Superchargers, Trent Rockets, and Southern Brave.
Notably, GMR, co-owners of IPL’s Delhi Capitals, have recently bought Hampshire County Cricket Club and are likely to be in the fray for the Southern Brave franchise. The ECB, unlike traditional franchise allocations, has ensured a structured bidding process for competitive investment.
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This development marks a massive change in the English domestic cricket scene, inviting global investors and possibly changing the league’s course. With RIL, The Hundred has a powerful supporter to strengthen its claim to becoming a long-term, financially solid competition on the world cricket stage.
