The Ambanis, owners of Mumbai Indians, have secured a 49% stake in the Oval Invincibles for approximately £60 million, marking a significant investment in English cricket. This acquisition comes as part of a broader initiative by the England and Wales Cricket Board (ECB) to auction 49% stakes in the eight Hundred teams, aiming to raise £350 million for county and grassroots cricket. Reliance Industries, chaired by Mukesh Ambani, will enter exclusive negotiations with Surrey and the ECB to finalize the deal, further expanding their international sports portfolio that includes multiple franchises.
The Ambanis' acquisition of a 49% stake in Oval Invincibles marks a significant investment in the English cricket market, highlighting their expanding global sports portfolio.
Reliance Industries Ltd. plans to invest about £60 million for the stake, as part of a larger initiative to enhance cricket funding in the UK.
This deal is part of a broader strategy by the ECB to raise funds and invest back into county and grassroots cricket, aiming for £350 million.
Mukesh Ambani's venture adds the Oval Invincibles to a portfolio that already includes multiple cricket franchises worldwide, showcasing their global sports ambitions.
Collection
[
|
...
]