Picture Credit: X

Picture Credit: X

With the trend of franchise cricket league gaining an upward boost, in the latest turn of events, five-time champions in the Indian Premier League (IPL), Mumbai Indians (MI) owners have reportedly bought a stake in The Hundred. According to reports making waves on social media, MI owners Reliance Industries Limited (RIL) have bought a 49 per cent stake in London’s Oval Invincibles on Thursday, January 30.

With the RIL acquiring 49 per cent stake in the franchise after winning the virtual auction, the Surrey-based team has become the first to be sold in the England and Wales Cricket Board (ECB) equity sale. According to Sky News, the reported bid valued 100 per cent of Oval Invincibles at approximately 125 million pounds.

MI owners RIL buy 49% stake in The Hundred’s Oval Invincibles: Reports

Further bifurcating the MI’s bid, RIL paid around 61 million pounds for a 49 per cent stake in the team. They pipped a group of technology billionaires like Google and Microsoft to bag a stake in the franchise. "RIL were widely linked with buying a stake in London Spirit, the Hundred team based at Lord's, but moved their focus towards the Invincibles as the sales process went on," the report said.

"Host venues were given the option to sell some of the 51% stake that they will be gifted by the ECB as part of the privatisation process. However, according to the report, Surrey have held firm on their stance that they will retain their controlling shares," the report further added.

With this, the Invincibles is the sixth team run by RIL, owned by Ambani family in the global cricketing leagues after Mumbai Indians (IPL and WPL), MI New York (MLC), MI Cape Town (SA20) and the MI Emirates (ILT20).

CSK, KKR unlikely to consider acquiring teams in The Hundred

On the other hand, interest levels among the IPL owners for The Hundred league appear to be declining. At least two franchises - Kolkata Knight Riders and Chennai Super Kings, are learnt to have decided not to seriously pursue the plans to acquire the English teams. CSK's Chief Executive Officer Kasi Viswanathan confirmed the decision in a recent statement, which read, "We've withdrawn, and we have formally informed the England and Wales Cricket Board about it."