In a landmark deal that reshapes the landscape of The Hundred, the Oval Invincibles are set to be rebranded as MI London, marking a significant expansion of Reliance Industries' global cricket footprint. The agreement, finalized on December 3, 2025, sees Reliance Strategic Business Ventures Limited, a subsidiary of Reliance Industries, acquire a 49% stake in the franchise, partnering with Surrey County Cricket Club, who will retain a 51% stake. The deal is valued at £60.27 million (₹725 crore), valuing the team at £123 million.
The rebranding will officially take effect from the 2026 season, with both the men's and women's teams competing under the new MI London moniker. This move aligns the franchise with the Mumbai Indians (MI) family, a collection of T20 teams owned by Reliance across the globe, including MI Cape Town in SA20, MI Emirates in the DP World International League T20 (ILT20), and MI New York in Major League Cricket (MLC). Nita Ambani, owner of the Mumbai Indians, expressed her delight at welcoming MI London into the #OneFamily, emphasizing London's special place in cricket and the commitment to nurturing young talent and uniting fans. Akash Ambani, director of Reliance Jio, echoed this sentiment, highlighting the Invincibles' winning record and spirit of excellence as perfectly embodying the MI ethos.
The Oval Invincibles have been the most successful team in The Hundred since the league's inception. The women's team secured back-to-back titles in 2021 and 2022, while the men's team has dominated the last three seasons, winning in 2023, 2024 and 2025. The team's success has been built on a foundation of local Surrey talent, such as Sam and Tom Curran, Will Jacks, and Alice Capsey, alongside international stars like Marizanne Kapp, Rashid Khan, and Adam Zampa.
Surrey County Cricket Club expressed confidence that the partnership with Reliance will enhance the franchise's commercial value and boost investment into the long-term sustainable growth of Surrey and cricket within the community. Surrey chair Oli Slipper stated that Reliance brings significant cricket and business expertise and has a proven track record of success with their franchise teams.
The acquisition of the Oval Invincibles is part of a broader trend of private investment into The Hundred. The England and Wales Cricket Board (ECB) initiated this new ownership model to strengthen the league's long-term sustainability and bring new financial resources to the sport. With all eight franchises now having strategic partners, the combined valuation of these partnerships is estimated to be over £975 million, with over £500 million earmarked for investment in English and Welsh cricket, including £50 million dedicated to grassroots development. Other recent deals include Sun TV's full takeover of Sunrisers Leeds for £100.5 million, RPSG acquiring 70% of Manchester Originals for £75 million, and GMR paying £48 million for 49% of Southern Brave. Additionally, a US tech consortium including Satyan Gajwani (Times Internet chairman), Sundar Pichai (Google CEO), and Satya Nadella (Microsoft CEO), acquired a 49% stake in London Spirit for £145 million.
Vikram Banerjee, Managing Director of The Hundred, hailed the completion of all eight deals as an exciting moment, stating that the world-leading partners now on board will help take The Hundred to the next level and establish it as an unmissable summer event. The rebranding of the Oval Invincibles as MI London represents a new chapter for the franchise and a significant step forward for The Hundred, as it seeks to grow its global appeal and secure its long-term future.
