NEW DELHI: Reliance Industries Limited (RIL), owners of the global Mumbai Indians franchise, have secured ownership of the Oval Invincibles franchise in The Hundred. According to Cricbuzz, they won the bid with a staggering £123 million offer, significantly exceeding expectations.
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Sources indicate that the team’s enterprise value stands at £123 million, with a 49% stake estimated at approximately £61 million. RIL outbid multiple competitors to acquire the team.
Previously managed by Surrey County Cricket Club, Oval Invincibles was the first team up for sale. On Friday, the ECB will proceed with bids for two other franchises — London Spirit, based at Lord’s, and Welsh Fire in Cardiff.
The Oval franchise has been winning the men’s tournament for the past two editions and would look to make a hat-trick of titles in 2025.
With the acquisition of Oval Invincibles, Reliance Industries now owns six teams across global cricket leagues. Their expanding portfolio includes Mumbai Indians in both the IPL and WPL, MI New York in Major League Cricket (MLC), MI Cape Town in SA20, and MI Emirates in the ILT20.
This latest addition further strengthens their presence in franchise cricket, making them one of the most dominant entities in the sport.
