Ambanis acquire 49 percent stake in Oval Invincibles for Rs 650 crore

Mukesh and Nita Ambani have acquired a 49 percent stake in the Oval Invincibles cricket team for Rs 650 crore. This makes it the most valuable franchise in The Hundred cricket league, valued at over Rs 1,340 crore. The Ambanis have a history of significant cricket investments, including the Mumbai Indians, which they purchased in 2008. Their cricket portfolio now includes multiple franchises across various leagues, enhancing their global presence. This acquisition reflects Reliance Industries' strategy to expand its sports investments. The Ambanis aim to leverage their expertise to further develop the Oval Invincibles and promote cricket worldwide.