The Hundred: Mumbai Indians owners agree landmark deal to buy stake in Oval Invincibles The owners of Indian Premier League giants Mumbai Indians have agreed a deal to buy a stake in Oval Invincibles in a landmark moment for English cricket.
The England & Wales Cricket Board, which launched the Hundred in 2021, is retaining central control of the competition but selling off its teams in order to provide the English cricket with a cash injection it says will “future-proof” the game for the next 20 years.
The Invincibles, who have won four titles in four years across the men’s and women’s tournaments, are the first Hundred team to be partially sold, with similar auctions for the other seven outfits to take place in the coming days.
Reliance Industries Limited, owned by India’s richest family, the Ambanis, won the right to buy a 49 per cent stake in the Hundred team at a virtual auction on Thursday afternoon.
No formal announcement is expected to be made until the sale process across all eight teams is complete, but it is understood that the RIL bid valued the Invincibles at just north of £120million, meaning they will pay around £60m for their share.
