Reliance buys Oval Invincibles stake, rebrands MI London

Reliance Industries Limited, led by Mukesh Ambani, has taken a minority position in the Oval Invincibles franchise in The Hundred and renamed the team MI London . The company acquired a 49% stake for approximately £60 million in January 2025, according to the details described in the transaction summary.

The change links the London-based franchise to the Ambani family’s wider cricket business built around the Mumbai Indians brand. The move brings Oval Invincibles into a global sports portfolio while keeping the team within The Hundred’s domestic structure.

Ownership split keeps Surrey in control

Despite the rebrand and the arrival of a Despite the rebrand and the arrival of a new strategic investor, Surrey County Cricket Club is retaining majority ownership. The club is also expected to maintain operational continuity under the minority-ownership model outlined in the deal terms. Management reports cited in the material describe the governance handover as orderly, with no contractual disputes emerging during the transition. The intent, as presented, is to use the investor’s commercial infrastructure without disrupting existing day-to-day operations. MI London positioned for sponsorship and commercial growth The partnership is framed as part of a broader shift toward franchise-style models becoming more international in outlook within English domestic cricket. By adopting the Mumbai Indians identity, MI London is aiming to widen its commercial reach and attract sponsorship interest beyond the UK market.

Reliance Industries Limited

The investment is also described as among the earlier private equity-style involvements in The Hundred. That framing matters for how future ownership structures may be designed, particularly if other franchises pursue comparable capital and branding partnerships.

Staff integration underway, coaching continuity retained Integration work has included appointments drawn from the investor’s wider global network. At the same time, Surrey’s existing coaching staff is staying in place, according to the material, to preserve institutional knowledge during the transition.

The franchise is valued at around £120 million, positioning it as a major asset within The Hundred’s developing financial landscape. With Surrey holding majority control, the deal is presented as a balance between local stewardship and externally provided commercial scale.

Uncertainties around longer-term league effects

While the transaction is portrayed as a stable shift in governance, the longer-term impact on The Hundred’s broader ownership landscape is not yet fully defined in the available information. The material suggests the deal could serve as a reference point, but it does not provide details on additional transactions or changes at other teams.

What is clear from the facts provided is that global conglomerates continue to view franchise cricket as an increasingly attractive area for investment, and that this particular agreement ties one of The Hundred’s franchises to an established international cricket brand.

Implications

Country Impact: The transaction places an English domestic cricket franchise under a new minority investor while leaving Surrey County Cricket Club in majority control. It also signals a greater openness to global franchise branding within England’s domestic cricket structure, as described in the deal framing.

Industry Impact: For cricket and sports business, the rebrand to MI London links a The Hundred franchise to the Mumbai Indians commercial model. The material describes the deal as an early example of private equity-style involvement in the league, which could influence how future partnerships are structured.

Market Impact: The deal underscores growing investor interest in franchise cricket assets and valuations, with MI London described at around £120 million. The information provided points to sponsorship and commercial expansion goals, though it does not quantify expected revenue gains or provide a timeline for financial outcomes.