Reliance acquires 49% stake in UK cricket team Oval Invincibles for $74.8 M
Reliance Industries Limited (RIL) has acquired a 49% stake in the England and Wales Cricket Board's (ECB) The Hundred team, Oval Invincibles, for GBP 60.27 million (USD 74.83 M), at a valuation of GBP 123 million (USD 152.73 M).The acquisition was made through a virtual auction, fending off competition from a Silicon Valley tech consortium featuring Sundar Pichai and Satya Nadella, as well as private equity firm CVC Capital Partners.Reliance had earlier acquired cricket teams Mumbai Indians in the Indian Premier League and Women's Premier League, MI New York in Major League Cricket (MLC), MI Cape Town in SA20, and MI Emirates in the ILT20.
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