The billionaire Ambani family has secured a 49 per cent stake in the Oval Invincibles cricket team in London, beating out private equity firms and Silicon Valley executives, according to a Bloomberg report. The Ambanis, who already own the Mumbai Indians in India’s popular cricket league, will now hold a significant share in one of the top franchises in the new short-form Hundred competition.

The deal is part of English cricket’s effort to raise funds and boost the sport’s global reach. The Hundred, which features 100-ball matches, launched in 2021 and is designed to attract a broader audience with its simplified format.

The sale follows months of bidding, with the Ambanis competing against firms like CVC Capital Partners and a group of Silicon Valley CEOs, including Alphabet’s Sundar Pichai. The value of their winning bid has not been disclosed.

The Ambanis’ involvement could pave the way for Indian players to join the Hundred, which may attract more viewers, as Indian cricketers are currently barred from participating in overseas leagues.

The English and Wales Cricket Board (ECB) is selling a 49 per cent stake in each of the competition’s eight teams. The auction, managed by Raine Group, also includes a final bidding round for the London Spirit franchise on Friday, with Chelsea FC’s Todd Boehly showing interest.

The ECB and the Ambanis have yet to comment on the deal.

Others who had bid for it

The report also mentioned that Alphabet Inc. CEO Sundar Pichai is joining a group of Silicon Valley executives in bidding for a London-based cricket team, sources familiar with the matter say.

The consortium is offering over £80 million ($97 million) for a stake in either the Oval Invincibles or London Spirit, both teams playing in The Hundred, a fast-paced tournament in England and Wales that is attracting younger and family audiences.

The group is led by Nikesh Arora, CEO of Palo Alto Networks Inc., and Satyan Gajwani, vice chairman of Times Internet Ltd., the digital arm of the Times of India Group. Other members of the consortium include Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Egon Durban, co-CEO of Silver Lake Management LLC, the sources added, requesting anonymity as the information has not been made public. Representatives of the consortium have declined to comment.

To boost domestic finances, the England and Wales Cricket Board (ECB) launched an auction in September for private investment in the eight teams of The Hundred. Managed by Raine Group, the same firm that advised on the Manchester United and Chelsea FC sales, the ECB aims to raise over £300 million.

Franchises have ranked two preferred bidders for the final auction round. The Hundred, a shorter format with 100-ball games, has attracted over 2 million attendees since its 2021 launch.

While the ECB is selling its 49 per cent stake in each team (with the option for full takeovers), the two London teams, including London Spirit at Lord’s, have drawn the most interest. The men’s and women’s Hundred competitions generate around £60 million annually from broadcasting, ticket sales, and sponsorships.