Business
Ford : Huge Manufacturing Investment Goes To EV Factories And Technicians
September 28, 2021
January 31, 2025
India's Ambani family, owners of the Mumbai Indians, have secured a 49% stake in Oval Invincibles, becoming the first external shareholders in an English Hundred franchise.
The deal, won in a live three-way auction conducted by the England and Wales Cricket Board (ECB), is expected to value Oval Invincibles at approximately £125 million, with the ECB earning around £60 million from the sale.
The Mumbai Indians’ owners outbid tech billionaires, including executives from Google and Microsoft, as well as CVC Capital Partners, a private equity firm involved in Formula One and other elite sports.
This acquisition will grant the Ambanis significant governance rights over the team, strengthening their influence in English cricket.
Oval Invincibles, captained by Sam Curran, features top English players like Gus Atkinson and has won The Hundred men’s trophy in 2023 and 2024.
With the ECB selling stakes in all eight franchises, London Spirit is expected to fetch the highest price, followed by Birmingham Phoenix, which will go to auction next.
Source: Sky news
