The sale of a 49% stake in The Hundred’s Oval Invincibles to Reliance Industries has hit delays, putting a temporary hold on English cricket’s anticipated £520 million cash injection—funds widely viewed as a financial lifeline for the sport’s professional and grassroots tiers.
According to a report by Sky News, discussions between Reliance subsidiary RISE Worldwide and Surrey County Cricket Club, which owns the remaining 51% of the Invincibles, have encountered several unresolved issues—most notably, what the team will be called once the deal is finalized. Despite the friction, talks are reportedly not at a complete impasse and remain ongoing.
Oval Invincibles naming rights among sticking points
RISE Worldwide had agreed to pay £60 million for its stake in the Oval-based franchise, one of The Hundred’s most high-profile teams. But the lack of consensus over the team’s future name—potentially aligning more closely with the Mumbai Indians or “MI” identity—has become a central hurdle, according to Sky News.
This is part of a broader negotiation landscape. Every investor group across the eight franchises was required to sign a venue hire agreement and a shareholder agreement with the venue-owning county. As of the latest updates, RISE Worldwide had yet to formally sign either of these documents with Surrey CCC.
Ambani family sees Oval as global expansion opportunity
At the time of sale, Nita Ambani told media: “Cricket is more than just a sport, it’s a passion that unites people across geographies and cultures. Welcoming Oval Invincibles into our Mumbai Indians family is a proud and special moment.”
“With this partnership, we expand our MI fan base across India, New York, the UAE, South Africa, and now England – ushering in a new chapter of our global cricketing journey,” she added. “At Mumbai Indians, we remain deeply committed to nurturing young talent, building champion teams, and bringing fans closer to the game.”
Akash Ambani said in a statement at the time of the deal: “We are glad to be part of Oval Invincibles—the most successful team in The Hundred—and welcome them into the Mumbai Indians family.”
“England, with its rich cricketing culture, has always been special to the game,” he continued. “To have the iconic Oval, which has witnessed some of cricket’s greatest moments, as our home venue is truly special.”
“We look forward to collaborating with like-minded partners, Surrey CCC, who share our passion and ethos for the sport.”
Surrey CCC confident in Reliance partnership
Surrey CCC chair Oli Slipper praised the partnership at its announcement earlier this year. “We said at the outset that we wanted the best partner to ensure that Surrey continue to lead the way in English cricket and in Mumbai Indians that is what we have got,” he said in February.
“They share our passion for cricket, they own the biggest and most successful team in the IPL, the Mumbai Indians, and we believe this partnership will bring continued success to both Surrey CCC and our Hundred team,” he noted. “Beyond cricket, the huge success of RIL’s global business will help Surrey to thrive off the field too.”
ECB remains optimistic despite legal bottlenecks
The England and Wales Cricket Board (ECB) has already extended its deadline once to accommodate the complexities of these multi-party negotiations. While the process has dragged on, ECB officials remain confident the deals will cross the finish line.
Vikram Banerjee, managing director of The Hundred, acknowledged the complexities. “In any process where, at the last count, there were 21 law firms involved, it’s going to take a bit of time,” he told SportsPro.
“And we’d always thought that we’d rather get to where we wanted to get to, in a good place, than rush things and perhaps not get it quite right,” Banerjee added.
“But we’re finally in a place where the majority of everything is all agreed, so we can finally start looking forward into how we grow the tournament and how we work together to take it on to the next phase.”
Sale delays ripple across English cricket
The Hundred’s team sales—originally agreed in February following a competitive auction process—had valued the competition’s franchises at nearly £1 billion. The £520 million raised was expected to be redistributed across English cricket’s county system and grassroots initiatives.
Most of the other investor groups, which include IPL franchises, tech executives from firms like Google and Microsoft, and private equity players, have already agreed to revised ECB terms. These include allowing host venues to retain intellectual property rights and granting investors a de facto veto over future expansion of The Hundred. The ECB has also committed not to launch any competing short-form leagues while The Hundred remains operational.
Broadcast rights are among the few details still to be finalized.
For now, the ECB, Surrey, and Reliance have declined to comment publicly on the ongoing talks. But with the season progressing and financial expectations mounting, all eyes are on the Oval Invincibles deal—and whether the Mumbai Indians’ bold expansion into English cricket will go ahead as planned.
