Reliance Industries-owned Indian Premier League franchise Mumbai Indians has further expanded its global footprint after clinching a deal to acquire a 49% stake in the London-based Oval Invincibles team in The Hundred.
The Hundred will thus become the fourth non-Indian league after UAE’s International League T20 (ILT20), South Africa’s SA20 and Major League Cricket (MLC) in the US where the five-time IPL champions and inaugural Women’s Premier League champions will be in charge of a franchise.
On Thursday the Invincibles became the first of the eight Hundred teams to sell shares to private investors.
Per UK media reports, the deal valued 100% of the franchise at about £123 million ($153m), meaning Reliance will pay about £60m ($74.6m) for their 49% stake.
Reliance reportedly fought off competition from private equity firm CVC Capital Partners and a Silicon ÂValley Âconsortium that included the chief executives of Google and Microsoft, Sundar Pichai and Satya Nadella.
The final auctions for the eight Hundred teams is the culmination of a sales process that began in September.
The Invincibles deal will be followed by Birmingham Phoenix and the remaining six teams will be sold in the coming days.
The Invincibles’ men are two-time and current Hundred champions, while the women were winners in both 2021 and 2022.
