The family of Mumbai Indians’s most successful franchise is constantly expanding. Apart from the IPL, India’s richest businessman Mukesh Ambani, owned by Reliance, has also bought teams in the League of South Africa, USA and UAE.
Now the mi has expanded its business to England and has bought a large portion of a team there. The mi has bought almost half of the England Cricket Board’s franchise league ‘The Hundred’ team, Oval Invincible, and has become the first IPL franchise to do so.
The deal was done for Rs 658 crore
According to a media report, on Thursday, January 30, the ECB began the auction process of Oval Invincibles, in which it is selling 49 % of its stake. According to media reports, Reliance Industries has bought 49 per cent stake by its Mumbai Indians franchise, with a huge bid of about £ 61 million, or about Rs 658 crore. Like the Mumbai Indians, Oval is the most successful franchise in The Hundred, which won the men’s tournament in 2023 and 2024, while won the women’s tournament in 2021 and 2022.
The England Cricket Board is selling its part
8 franchises participate in The Hundred, which is part of various county clubs of the England Cricket Board. The England Board started the league in 2021 with a 100-100 ball format, which was different from the T20. Since then, the ECB has 49-49 % of each of the leagues team, while the remaining 51 % is owned by the Franchisee’s main county club. In order to increase the value of this league and include private investors like IPL, the ECB decided to sell its stake in all 8 franchises, for which the auction process is being launched.
Will mi take full from Surrey?
Oval was the first auction in this category, from which the English board will get a large amount. Under the current model, mi will now hold 49 % of the ECB in Oval Invincible, while the Surrey County Cricket Club will have the remaining 51 %. This means that now Surrey and mi will jointly manage the men and female teams of this franchise. But the ECB has also allowed that if the county club wants, they can sell some of their shares. The look will be on whether Sir sells its stake. But currently mi The Hande has become the first IPL franchise to buy a team.
