Mukesh Ambani acquires 49% stake in Oval Invincibles, expanding RIL's cricket empire
The deal was secured after a virtual auction, where Ambani successfully outbid a Silicon Valley tech consortium including Sundar Pichai and Satya Nadella, as well as private equity giant CVC Capital Partners.
India's wealthiest business tycoon, Mukesh Ambani, is expanding his cricket empire with Reliance Industries Limited (RIL). Ambani has acquired a 49% stake in the Oval Invincibles, a team in the England and Wales Cricket Board's (ECB) franchise tournament The Hundred, for ?60.27 million, valuing the team at ?123 million.
The deal was secured after a virtual auction, where Ambani successfully outbid a Silicon Valley tech consortium including Sundar Pichai and Satya Nadella, as well as private equity giant CVC Capital Partners.
Ambani's expanding cricket empire
With this new bid, Mukesh Ambani's cricket empire has only expanded, RIL has over the years acquired stakes in multiple high-profile teams across various international leagues. A look at the franchises currently under his ownership:
Mumbai Indians in the Indian Premier League (IPL)
Mumbai Indians in the Women's Premier League (WPL)
MI Capetown in SA20
MI Emirates in ILT20
MI New York in MLC
Oval Invincibles in The Hundred
Mumbai Indians gets 49% stake of Defending Champions Oval Invincibles franchise in the Hundred League.
¡ª Mumbai Indians FC (@MIPaltanFamily) January 30, 2025
Suggest sone good names
MI Invincibles or MI Ovals ? pic.twitter.com/C0H8HHbz9b
About the bid
The bidding process for The Hundred franchises has entered its final stages, with binding bids being submitted from January 30. Two teams are being auctioned off each day with the ECB is offering a 49% stake in each team, while the counties retain the right to sell a portion or all of their 51% stake.
Here we go!
¡ª The Hundred (@thehundred) January 29, 2025
Get ready for #TheHundred 2025. Returning 5 August ? pic.twitter.com/UweIpUJrFv
About The Hundred
Launched in 2021 by the ECB, The Hundred is a professional 100-ball cricket tournament featuring eight city-based franchises - London Spirit, Oval Invincibles, Manchester Originals, Birmingham Phoenix, Northern Superchargers, Southern Brave, Welsh Fire, and Trent Rockets. The fast-paced format is designed to appeal to new and younger audiences, bringing fresh excitement to the sport.
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Karen Noronha is a versatile journalist with a passion for sports and K-pop. With over 7 years of experience at publications like IBTimes UK, DNA, and OTTPlay/DesiMartini, she seamlessly transitions between covering global athletic events and the dynamic world of K-pop.
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