Mukesh Ambani’s Reliance Industries Acquires 49% Stake in Oval Invincibles for Rs 648 Crore
Mukesh Ambani’s Reliance Industries Limited (RIL) has made a significant move in the global cricket scene by acquiring a 49% stake in the Oval Invincibles, a prominent franchise in the England and Wales Cricket Board’s (ECB) The Hundred tournament. This strategic deal, valued at 60.27 million pounds (approximately 648.5 crore rupees), places the total valuation of the team at 123 million pounds. This acquisition was finalized after a competitive virtual auction, with Ambani’s bid surpassing strong contenders such as Sundar Pichai, Satya Nadella, and private equity giant CVC Capital Partners.
This acquisition adds to RIL’s expanding portfolio of cricket franchises, which includes the Mumbai Indians in the Indian Premier League (IPL) and Women’s Premier League (WPL), as well as MI New York in Major League Cricket (MLC), MI Cape Town in the SA20 league, and MI Emirates in the ILT20. The deal is a part of RIL’s continued investment in cricket, positioning them as a dominant player in the global cricket market.
The bidding process for The Hundred teams has attracted considerable global attention. The ECB had announced plans to sell 49% stakes in all eight of its franchises, sparking interest from various investors across the world. The auction process for these stakes began in January 2025 and is set to conclude by early February. The bidding consisted of multiple stages, including the submission of binding offers, non-binding bids, and final binding bids. The Oval Invincibles and Birmingham Phoenix were the first two teams to be auctioned, and in cases where more than two bids were received, a live auction determined the final sale price.
The Hundred, which was launched in 2021, is a fast-paced 100-ball cricket tournament designed to attract a new audience to the sport. With eight city-based franchises, it has gained significant traction, particularly in the UK. The competition is seen as a promising investment, with the ECB projecting central revenue for The Hundred to increase substantially in the coming years. By 2032, the central revenue is expected to soar from 47 million pounds in 2024 to 156 million pounds, driven largely by lucrative media rights and sponsorship deals.
Top teams like the London Spirit, Oval Invincibles, and Manchester Originals have attracted the most interest from investors. Reports suggest that other major players in the cricket investment space, such as the Sun TV Network and GMR Group, are eyeing franchises like the Northern Superchargers and Southern Brave. GMR Group has recently expanded its cricket investments by acquiring Hampshire Sport & Leisure Holdings Ltd, which owns Hampshire Cricket and the Utilita Bowl stadium.
With the increasing global interest in The Hundred and the rising profile of cricket, Reliance’s acquisition is set to play a key role in shaping the future of the sport, both in the UK and worldwide. This move not only strengthens RIL’s position in the global cricketing landscape but also highlights the growing commercialization of cricket leagues beyond traditional formats like the IPL.
