Surrey to preserve majority stake in Oval Invincibles as negotiations with Reliance commence
It has been confirmed by Surrey that they will maintain their controlling share in Oval Invincibles.
Subsequent to January's equity sale of teams comprising The Hundred, it has been confirmed by Surrey that they will be retaining a majority stake in the defending champions of the men's competition and the semi-finalists of the women's competition, Oval Invincibles. Deliberations with the owner of Mumbai Indians, Reliance Industries Limited (RIL) have already commenced.
After valuing the most successful team across genders in the tournament's four-year history, RIL clinched a 49% share of the franchise during a live auction held on January 30. The Invincibles were valued at £123 million. As a result, this means that they are expected to pay just over £60 million at the end of 2025 after the transfer from the England and Wales Cricket Board to the Surrey County Cricket Club is implemented via Reliance's subsidiary, RISE Worldwide.
Mumbai Indians are widely recognised as the most powerful franchise in the history of the Indian Premier League. They are the five-time winners of the cash-rich league. On the other hand, Surrey are by far the richest English county club. The men's and women's sides of the Invincibles will become the sixth and seventh teams connected with RIL. As of now, the five sides are Mumbai Indians (in both the IPL and the WPL), MI Cape Town (SA20), MI Emirates (ILT20), and MI New York (MLC).
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Chairperson of Surrey, Oli Slipper, seemed excited for collaborating with RIL and Mumbai Indians.
"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. They share our passion for cricket, they own the biggest and most successful team in the IPL, the Mumbai Indians, and we believe this partnership will bring continued success to both Surrey CCC and our Hundred team," stated Slipper, as quoted by ESPNcricinfo.
Meanwhile, owner of Mumbai Indians, Nita Ambani and her son, Akash Ambani, were quite excited to add to Oval Invincibles and its legacy."
"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," shared Nita.
"England, with its rich cricketing culture, has always been special to the game. To have the iconic Oval which has witnessed some of cricket's greatest moments as our home venue is truly special," added Akash.
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