Mumbai Indians acquire 49% stake in The Hundred's Oval Invincibles
What's the story
Mumbai Indians (MI), one of the most successful IPL teams, has invested heavily in England's 100-ball cricket league, The Hundred. Reliance Industries Limited (RIL), MI's parent company, announced on February 10 that it has acquired a 49% stake in London-based club Oval Invincibles. The move was made possible through RIL's subsidiary, RISE Worldwide and Surrey County Cricket Club (SCCC).
Stake details
RIL's investment and Surrey's retained stake
RIL has pledged £60 million for its stake in the Invincibles, a team which is currently worth £123 million. Despite the new partnership, Surrey has kept a slight majority by holding on to 51% of its stake in the Invincibles. The deal is the first time a team from The Hundred has been sold by the England and Wales Cricket Board (ECB).
Team performance
Oval Invincibles's impressive track record
The Oval Invincibles have a rich history of performance in The Hundred, with both their men's and women's teams performing exceptionally well. The women's team won the tournament in 2021 and 2022 after defeating Southern Brave in the finals. Following in their footsteps, the men's team won in 2023 and 2024 after defeating Manchester Originals and Southern Brave in the finals.
Growth strategy
MI's global expansion and commitment to cricket
Nita Ambani, MI's owner, was excited about the partnership. Welcoming Oval Invincibles into our Mumbai Indians family is a proud and special moment," said Ambani. "With this partnership, we expand our MI fan base across India, New York, the UAE, South Africa, and now England," she added. Ambani highlighted MI's commitment to nurturing young talent and building champion teams while bringing fans closer to the game.
Partnership impact
Surrey CCC's chairman on partnership with MI
Oli Slipper, the chairman of Surrey Cricket Club, expressed his confidence in the MI partnership. He said they wanted a partner who shares their passion for cricket and found it in MI. Slipper believes this alliance will bring continued success to both Surrey CCC and their Hundred team. The collaboration will begin later this year, marking a significant milestone in global cricket partnerships.