one of the most influential stakeholders in English cricket.
The Ambani family has secured a landmark deal to buy a 49% stake in The Hundred side, Oval Invincibles.
The agreement will unite the London-based team with the owners of the Mumbai Indians.
It was reported that India’s richest family won a live three-way auction. The England and Wales Cricket Board (ECB) conducted the process on January 24, 2025.
The exact price paid remains unclear.
However, sources suggest it values the Oval Invincibles at approximately £125 million.
If confirmed, the ECB’s estimated £60 million windfall will set a benchmark for selling stakes in the remaining seven teams.
The Ambanis outbid technology billionaires, including Google and Microsoft executives.
CVC Capital Partners, a prolific investor in elite sport, was also expected to participate in the auction.
The Ambanis will become one of the most influential stakeholders in English cricket.
Sky News reported that the Mumbai Indians’ owners will gain significant governance rights over the cricketing aspects of the Oval Invincibles.
The team’s men’s squad, captained by Sam Curran, features England internationals such as Gus Atkinson.
It is expected to fetch the second-highest price, behind Lords-based London Spirit.
A tech billionaire consortium will also bid for London Spirit, whose auction is set for January 31.
The franchise is expected to be valued at over £140 million, with the ECB receiving at least £70 million from the sale.
Bidders in auctions with three or more participants submit offers every 15 minutes in increments of at least £3 million.
Birmingham Phoenix is next on the block.
Losing bidders may get a chance to compete for other franchises, though details remain unclear.
The London Spirit auction includes bids from Todd Boehly, members of the Glazer family, and the RPSG Group.
For franchises with only two bidders, the auction follows a sealed bid format.
The ECB estimates the eight teams could be worth around £350 million, though higher valuations are possible.
Proceeds from the sales will be distributed among host counties, non-host counties and grassroots cricket. Host counties can sell their 51% stakes, though some plan to retain ownership.
The MCC, which controls London Spirit, does not intend to sell its stake.
Investors can only own a stake in one of the eight teams, including Welsh Fire, Southern Brave and Northern Superchargers.
A larger-than-expected financial boost could help struggling counties pay off debt. However, concerns remain about whether these windfalls will improve long-term financial sustainability.
The auction’s outcome raises wider questions about cricket’s future. Test cricket continues to struggle for commercial viability against shorter formats.
Raine Group, which managed recent sales of Manchester United and Chelsea stakes, is handling the auction.
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