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 owners of Indian Premier League giants Mumbai Indians have agreed a deal to buy a stake in Oval Invincibles in a landmark moment for English cricket. Reliance Industries Limited, owned by India’s richest family, the Ambanis, won the right to buy a 49 per cent stake in the Hundred team at a virtual auction on Thursday afternoon.

Oval Invincibles is one of the most successful teams in The Hundred, having won the men’s tournament in the first two seasons. The team is currently owned by Surrey County Cricket Club, which will retain a 51% stake. The deal allows the RIL to conduct talks with Surrey for potential future ownership expansion.

Mumbai Indians owners, Reliance Industries Limited are on the verge of owning a 49% stake in Surrey-based team, Oval Invincibles. They won the virtual bidding war on Thursday. CVC Capitals, which owns Gujarat Titans,

Reliance Industries Limited, owners of Mumbai Indians, acquired a 49% stake in London’s Oval Invincibles for around £61 million. The move positions MI as influential in English cricket governance. The highest anticipated bid is for The London Spirit franchise,