Reliance Industries Limited has acquired a 49% stake in Oval Invincibles Limited, a franchise in The Hundred cricket league, for GBP 60,270,000. The partnership aims to grow the game globally and nurture emerging talent. Starting 2026, both the men’s and women’s teams will be known as MI London. This marks Reliance’s continued expansion into the sports and entertainment sector.
Strategic Investment in Sports
Reliance Industries Limited (RIL), through its subsidiary Reliance Strategic Business Ventures Limited (RSBVL), has announced a significant investment in the world of cricket. The company has acquired a 49% shareholding in Oval Invincibles Limited from the England and Wales Cricket Board (ECB). The transaction amount is valued at GBP 60,270,000.
Oval Invincibles Performance
Oval Invincibles has demonstrated strong financial performance over the past few years. The turnover for the year ended January 31, 2025, was GBP 2,331,613. Previous years also showed substantial revenue, with GBP 2,102,249 for the year ended January 31, 2024, and GBP 2,125,194 for the year ended January 31, 2023.
MI London: A New Era
Effective 2026, the Oval Invincibles men’s and women’s teams will be rebranded as MI London, aligning them with the Mumbai Indians’ global brand. This collaboration brings together the expertise of Reliance in building world-class cricket teams and Surrey’s established presence in English cricket.
Statements on the Partnership
Mrs. Nita M. Ambani noted the special significance of London in the world of cricket and expressed excitement in nurturing young talent and uniting fans. Mr. Akash Ambani highlighted the perfect embodiment of the MI ethos in the Invincibles’ winning record and spirit.
Source: BSE