Mumbai/London: Reliance Industries Limited (RIL) has successfully concluded a significant global sports acquisition, with its wholly-owned subsidiary, Reliance Strategic Business Ventures Limited (RSBVL), acquiring a 49% stake in the highly successful Oval Invincibles Limited franchise of The Hundred cricket tournament.
The deal, valued at GBP 60,270,000 (approximately ₹625 crore at current exchange rates, valuing the team at over $123 million), marks a strategic partnership with Surrey County Cricket Club (Surrey CCC), which retains a 51% majority stake.
The acquisition, completed on December 3, 2025, sees the ownership of the franchise transfer from the England and Wales Cricket Board (ECB) to the new joint venture.
In a major branding move, both the men’s and women’s teams of the Oval Invincibles will be rebranded as MI London starting from the 2026 season, aligning the franchise with the celebrated Mumbai Indians (MI) global cricket ecosystem.
This addition expands the ‘MI Family’ to seven teams across five countries and four continents, underlining MI’s vision for global cricket growth and talent nurturing. The MI franchise boasts a commanding record, having secured 13 league titles globally over 17 years, including five IPL titles.
The investment by RSBVL is not a related party transaction and did not require any governmental or regulatory approvals. Oval Invincibles Limited, incorporated in May 2019, reported a turnover of GBP 2,331,613 for the year ended January 31, 2025.
RIL Chairperson Nita M. Ambani and MI owner Akash Ambani both expressed their delight in extending the MI legacy to London, emphasising collaboration with Surrey CCC to nurture talent and unite fans. Surrey Chair Oli Slipper highlighted Reliance’s deep “cricket and business expertise” and their shared goal to continue the franchise’s success.
Nita M. Ambani said, “We are delighted to welcome MI London into the #OneFamily and take the MI legacy to new frontiers. London holds a special place in the heart of cricket, and we are honoured to be part of its rich heritage. Together with Surrey, we look forward to nurturing young talent, engaging diverse communities, and uniting fans through their shared love of the game.”