Mukesh Ambani Acquire Stake in Oval Invincibles Cricket Team

The Ambani family has reportedly acquired a 49% stake in Oval Invincibles, one of the teams in England’s Hundred cricket tournament. The purchase follows months of bidding and competition from Silicon Valley executives and private equity firms, according to news reports.

Competitive Bidding 

The England and Wales Cricket Board (ECB) launched an auction in September 2024 to sell 49% stakes in each of the eight teams in The Hundred. The process was managed by Raine Group, the same firm that previously handled sales of football clubs like Manchester United and Chelsea. The ECB aims to raise over £300 million through these investments.

For the Oval Invincibles stake, the Ambanis were competing against a consortium of tech executives including Alphabet CEO Sundar Pichai, Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Times Internet’s Satyan Gajwani. Private equity firm CVC Capital Partners, which owns the IPL franchise Gujarat Titans, was also in the race.

Reports suggest that the Silicon Valley-backed consortium offered over £80 million ($97 million) for a stake in either Oval Invincibles or London Spirit, but the Ambanis won the bid. The exact value of the transaction has not been disclosed.

The Hundred 

The Hundred, launched in 2021, is a 100-ball per-side cricket tournament aimed at attracting a wider audience. It has seen over 2 million attendees so far and generates approximately £60 million annually through sponsorships, ticket sales, and broadcasting rights. The ECB is selling these stakes to boost the competition’s financial standing.

Unclear Impact 

At present, Indian cricketers are not allowed to participate in overseas leagues due to BCCI regulations. While the Ambanis’ ownership of the franchise could bring speculation about Indian player involvement, there has been no official confirmation of any policy changes.

The final round of bidding for London Spirit, another team in The Hundred, is scheduled soon, with Chelsea FC co-owner Todd Boehly reportedly showing interest. Neither Reliance Industries nor the ECB has made an official statement on the Oval Invincibles deal.

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