Surrey to keep majority as Mumbai Indians owners confirm Oval Invincibles stake
Surrey have confirmed that they will remain majority owners of the Hundred franchise Oval Invincibles after taking investment from super-rich Indian family the Ambanis.
The family, through Reliance Industries Limited, have agreed to purchase a 49 per cent share in the south London side in a deal that values them at around £125m.
It was the first of eight Hundred franchises to see the England and Wales Cricket Board’s large minority stake sold or offered to private investors.
Since then London Spirit, based at Lord’s, has seen a stake sold that values the team at £295m while others – including Welsh Fire in Cardiff, Birmingham Phoenix at Edgbaston and Manchester Originals at Old Trafford – were sold to overseas investors.
But Surrey will keep their majority stake in the Invincibles, with Mumbai Indians owners the Ambanis accepting secondary status.
Nita Ambani, owner of Mumbai Indians, said: “Cricket is more than just a sport, it’s a passion that unites people across geographies and cultures. Welcoming Oval Invincibles into our Mumbai Indians family is a proud and special moment.
“With this partnership, we expand our MI fan base across India, New York, the UAE, South Africa, and now England – ushering in a new chapter of our global cricketing journey.
“At Mumbai Indians, we remain deeply committed to nurturing young talent, building champion teams, and bringing fans closer to the game.”
Best partner for Surrey
Added Surrey chair Oli Slipper: “We said at the outset that we wanted the best partner to ensure that Surrey continue to lead the way in English cricket and in Mumbai Indians that is what we have got.
“Beyond cricket, the huge success of RIL’s global business will help Surrey to thrive off the field too.”
Lancashire chose to sell a 21 per cent stake to relinquish their majority holding in Manchester Originals, while Yorkshire County Cricket Club sold the entirety of their 51 per cent stake in Northern Superchargers to hand the Sun Group – who own Indian Premier League team Sunrisers Hyderabad – 100 per cent of the Headingley team.
Trent Rockets are yet to find a buyer, with the auction halted last week to ensure any unsuccessful bidders across the six sold franchises could reassess their options and join the frenzy once again.
The eighth team, Southern Brace, are expected to be sold to host county Hampshire’s new owner GMR, which owns Delhi Capitals.