Surrey Retains Majority Stake in Oval Invincibles as Talks with Reliance Industries Begin
Surrey has made it clear that they will be maintaining their majority stake in Oval Invincibles as they enter into exclusive negotiations with Reliance Industries Limited (RIL), the owners of Mumbai Indians. This decision comes in the aftermath of the recent Hundred equity sale.
RIL successfully secured a 49% stake in the Invincibles, the reigning Men’s Hundred champions and the most successful team in the tournament’s history, across genders. The franchise was valued at £123 million during a live auction on January 30, which means that RIL is expected to pay over £60 million for their equity share when the ownership transitions from ECB to Surrey County Cricket Club by the end of 2025. The negotiations will be facilitated by RISE Worldwide, Reliance’s subsidiary, which has been named as the club’s preferred partner starting from the 2026 season.
Mumbai Indians, boasting five IPL titles, are renowned as one of the most dominant IPL franchises, while Surrey stands as the wealthiest English county club. With the addition of the Invincibles’ men’s and women’s teams, RIL will now be associated with six other teams, further solidifying their presence in the cricketing world.
Investors’ Perspective on Hundred Franchises
Investors faced a live auction for highly sought-after Hundred franchises, expressing some frustration with the ECB’s perceived ‘pure financial’ motives. Sun Group managed to secure a 100% stake in Northern Superchargers, while other prominent groups like Sanjiv Goenka’s RPSG Group are expected to acquire significant stakes in franchises like Manchester Originals.
Upcoming Sales and Potential Partnerships
The sales process is set to involve up to five IPL teams in team ownership, with Southern Brave likely to be secured by GMR Group, co-owners of Delhi Capitals. Meanwhile, the owners of Kolkata Knight Riders and Rajasthan Royals have shown interest in Nottingham-based Trent Rockets.
Surrey’s Firm Stance and Excitement for Future Partnerships
Despite the competitive landscape, Surrey has reaffirmed their commitment to maintaining control over the Invincibles, emphasizing their enthusiasm for partnering with a franchise that boasts an impressive track record across various leagues. Oli Slipper, Chair of Surrey CCC, expressed confidence in the collaboration with Mumbai Indians, highlighting the shared passion for cricket and the potential for mutual success.
Mrs. Nita Ambani, Owner of Mumbai Indians, echoed these sentiments, emphasizing the significance of cricket as a unifying force that transcends boundaries. Akash Ambani, Owner of Mumbai Indians, underscored the honor of having the iconic Oval as their home venue, recognizing its storied history in the world of cricket.
As the negotiations progress between Surrey and RIL, the future of Oval Invincibles appears promising, with both parties poised to leverage their strengths and resources for continued success on and off the field.
