Reliance buy 49 per cent stake in Oval Invincibles

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Surrey County Cricket Club (SCCC) has confirmed its deal with Reliance but said it will continue to retain majority stake of 51 percent in the Oval Invincibles.

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Reliance Industries Limited (RIL) - owners of Mumbai Indians (MI) - through its subsidiary, RISE Worldwide, bought 49 per cent stake in The Hundred team for £60m (Rs 644.48 crore).

"RISE will have a 49 per cent share of the Hundred team. The Club hopes to benefit from Mumbai Indians' vast experience and proven success, fresh off lifting yet another league title in South Africa over the weekend, to further strengthen and maintain the team's position as the leading franchise in the competition," SCCC said in a statement.

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