Ambanis’ Mumbai Indians clinch deal for 49% stake in Oval Invincibles
Ambanis’ Mumbai Indians clinch deal for 49% stake in Oval Invincibles
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India’s richest family has clinched a landmark deal to buy a 49% stake in the Oval Invincibles in a deal that will unite the London-based team with the ownership of the Indian Premier League’s Mumbai Indians. Sky News can exclusively reveal that the Ambani family, which has a fortune estimated to be tens of billions of dollars, triumphed in a live three-way auction conducted by the England and Wales Cricket Board (ECB) on Friday.
The price that the Ambanis agreed to pay for the ECB stake was unclear, although sources said it would set a crucial benchmark for the sale of the ECB's stake in the remaining seven teams to be conducted over the next week. Money latest: Barclays takes fresh aim at WFH.
The Mumbai Indians' owners triumphed after competing against a group of technology billionaires including the bosses of Google and Microsoft. CVC Capital Partners, the private equity firm which has been a prolific investor in elite sport ranging from Formula One to volleyball, was also slated to take part in the auction.
The outcome, which may not be formally announced until next week, will see the Ambanis emerge among the most powerful stakeholders in English cricket. Plans to drill Rosebank and Jackdaw oil and gas fields obstructed in court. Water bills in England and Wales to rise by average of £10 per month.
Money blog: Barclays sends WFH memo to 85,000 staff - as 'new normal' increasingly starts to resemble the old one. The Oval Invincibles' men's team, captained by Sam Curran and featuring England internationals such as Gus Atkinson, is expected to fetch the second-highest price of any of the teams, behind Lords-based London Spirit, which will see the ECB's stake sold on Friday.
