Reliance Industries Limited, owned by India's wealthiest Ambani family, has acquired a 49% stake in the England's The Hundred side, Oval Invincibles. The group already owns the Mumbai Indians franchise in the IPL,

The bidding for the Oval Invincibles stake was intense, with the Ambani finally outbidding CVC Capital Partners and a consortium of Silicon Valley CEOs, including Sundar Pichai and Satya Nadella. The acquisition makes them influential players in one of the most valuable franchises in 'Hundred' competition.

The Ambani family, which also own the Mumbai Indians franchise in IPL, will take a 49% holding in Oval Invincibles, according to a person familiar with the matter.

Mukesh Ambani's Reliance Industries Limited has acquired a 49% stake in the ECB's The Hundred team, Oval Invincibles, for £60.27 million, fending off competition from notable names. Reliance already owns multiple cricket franchises globally.

India's Ambani family has sealed a landmark agreement to become the first external shareholder in one of English cricket's eight Hundred franchises, Sky News can exclusively reveal.

The winning bid reportedly values the franchise at 123 million pounds, meaning RIL will pay just over 60 million pounds for its 49 per cent stake.

The billionaire Ambani family won the bidding battle for a stake in the Oval Invincibles cricket team in London, after interest from private equity firms and Silicon Valley executives.

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