Khaitan & Co and Macfarlanes LLP have advised on Reliance Industries Limited’s (RIL) acquisition of a 49% stake in Oval Invincibles from the England and Wales Cricket Board (ECB), valuing the franchise at EUR 123 million.
As part of the transaction, both the men’s and women’s teams will be rebranded as “MI London” from the 2026 season, marking a significant expansion of the global Mumbai Indians cricket ecosystem.
The partnership follows the ECB’s programme to enable private investment into The Hundred teams and marks one of the most high-profile transactions within the competition’s new ownership model.
Khaitan & Co advised Reliance Industries Limited on its acquisition of 49% stake in Oval Invincibles from the England and Wales Cricket Board, valuing the franchise at EUR 123 million. The core deal team comprised Rahul Dutt, Aashutosh Sampat, Aman Dwivedi, Shrey Chhabra and Aman Nayar with assistance from Shailendra Bhandare and Sourav Dan.
Macfarlanes advised Surrey County Cricket Club on its partnership with Reliance Industries Limited in the Oval Invincibles franchise in The Hundred.
The Macfarlanes team was led by Corporate and M&A Partner Richard Burrows, supported by Senior Associate Oliver Morris and Associate Alexandra Gaynor.
Commercial advice was led by Partner Rosie Duckworth, with Senior Associate Andrew Hill and Associate Katie Shingler. Finance advice was provided by Partner Andrew Perkins, and Senior Associates Owen Giles and Nils Gravenhorst.
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