RIL Acquires 49% Stake in London's Oval Invincibles Cricket Team

Reliance Industries (RIL)-owned Mumbai Indians (MI), via its subsidiary RISE Worldwide, announced the acquisition of a 49% stake in London-based Oval Invincibles, a franchise in the England and Wales Cricket Board’s (ECB) The Hundred, for an undisclosed amount.

In a statement, the company stated that it was subject to customary diligence and documentation including acquisition of the shareholding and the Closing of the transaction.

“Welcoming Oval Invincibles into our Mumbai Indians family is a proud and special moment,” said Nita M Ambani, owner of MI and founder and chairperson of Reliance Foundation, in a statement. “With this partnership, we expand our MI fan base across India, New York, the UAE, South Africa, and now England—ushering in a new chapter of our global cricketing journey. At Mumbai Indians, we remain deeply committed to nurturing young talent, building champion teams, and bringing fans closer to the game.”

Oval Invincibles is the current champion men's team who won the Hundred 2023 and 2024, whereas the women's team won the first Hundred-ball league in 2021 and again in 2022.

The eight franchise-based teams- London Spirit, Oval Invincibles, Manchester Originals, Birmingham Phoenix, Northern Superchargers, Southern Brave, Welsh Fire, and Trent Rockets-end will compete among themselves.

"We are glad to be part of Oval Invincibles—the most successful team in The Hundred—and welcome them into the Mumbai Indians family,” said Akash M Ambani, co-owner of MI and chairman of Reliance Jio Infocomm, in a statement.

He added that MI was eager to collaborate with like-minded partners such as the Surrey County Cricket Club (CCC).

“By leveraging our global cricket expertise, we aim to further elevate the teams, engage with fans, and expand our footprint in the sport we love,” he added.

Oli Slipper, chair of Surrey CCC, said, “We said at the outset that we wanted the best partner to ensure that Surrey continues to lead the way in English cricket, and in Mumbai Indians, that is what we have got. They share our passion for cricket, they own the biggest and most successful team in the IPL, the Mumbai Indians, and we believe this partnership will bring continued success to both Surrey CCC and our Hundred team. Beyond cricket, the huge success of RIL’s global business will help Surrey to thrive off the field too.”