Reliance Acquires 49% Stake in Oval Invincibles; Franchise to Rebrand as MI London from 2026

Mumbai/London, December 3, 2025 — Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited (RIL), has acquired a 49% stake in Oval Invincibles Limited from the England and Wales Cricket Board (ECB) for GBP 60.27 million, the company announced in a regulatory filing on Wednesday.

The remaining 51% stake in the franchise will be held by Surrey County Cricket Club as part of a newly formed partnership that marks a major shift in The Hundred league’s ownership structure. Beginning 2026, both the men’s and women’s teams will compete under a new name: MI London, extending the global footprint of the Mumbai Indians (MI) brand.

Most Successful Team in The Hundred Joins MI Global Family

Oval Invincibles are the most decorated team in The Hundred, securing five titles in five years, including:

• Women’s titles: 2021, 2022

• Men’s titles: 2023, 2024, 2025

The franchise has featured top performers such as Sam Curran, Tom Curran, Will Jacks, Alice Capsey, Marizanne Kapp, Rashid Khan and Adam Zampa.

With MI London, the MI Family now includes seven teams across five countries and four continents, strengthening its position as the world’s most successful T20 franchise ecosystem with 13 global titles across leagues including IPL, WPL, SA20, ILT20, and MLC.

Nita Ambani & Akash Ambani Welcome MI London

Mrs. Nita M. Ambani said:
“We are delighted to welcome MI London into the #OneFamily. London holds a special place in the heart of cricket, and together with Surrey, we look forward to nurturing young talent and uniting fans globally.”

Mr. Akash Ambani added:
“The Invincibles’ winning legacy perfectly reflects MI’s ethos of excellence and resilience. We look forward to building on this legacy with our partners at Surrey CCC.”

Surrey Chair: Partnership Will Boost Franchise Growth

Surrey CCC Chair Oli Slipper called the partnership a strategic step:
“Reliance brings deep cricket and business expertise. Together we will continue the success of our teams and grow the global fanbase of MI London.”

Transaction Details (as per RIL filing)

• Acquirer: RSBVL, wholly-owned subsidiary of RIL

• Stake Purchased: 49%

• Seller: England and Wales Cricket Board

• Consideration: GBP 60,270,000

• Turnover of Oval Invincibles:

  • FY 2024–25: GBP 2.33 million

  • FY 2023–24: GBP 2.10 million

  • FY 2022–23: GBP 2.12 million

• No regulatory approvals were required; not a related-party transaction.

About RIL and MI

RIL continues to expand its global sports investment portfolio. Ranked 88th in Fortune Global 500 (2025) and 45th in Forbes Global 2000, the company operates across energy, petrochemicals, retail, digital services, and media.

Mumbai Indians remain one of the most decorated cricket franchises worldwide, with success in IPL, WPL, ILT20, SA20, MLC, and CLT20.