Mumbai Indians' owners have bought a massive stake in the Oval Invincible franchise, which competes in The Hundred cricket tournament.

Oval Invincibles have become the first Hundred franchise to see a 49 per cent stake sold, with India's Ambani family the winning bidders.

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.

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,

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.