How Mumbai Indians takeover has affected MI London & Surrey
Mumbai Indians' investment in Oval Invincibles has seen the Hundred franchise rebrand as MI London, bringing the Ambani family's IPL cricket empire into English domestic cricket. Reliance Industries, chaired by Mukesh Ambani, bought a 49% stake in the club in a deal worth around £60m in January 2025, one of the first team sales in the Hundred, and Surrey chief executive Steve Elworthy says the partnership has proved smooth despite the significant shift in identity.
Surrey, who remain the majority shareholder, insist their culture has been preserved even as the club aligns with the wider MI stable, which includes MI Cape Town, MI Emirates and MI New York. MI London are now valued at about £120m, the second most valuable team in the competition behind Lord's-based London Spirit at roughly £300m, and previously won five titles as Invincibles across the men's and women's competitions. Players such as England all-rounder Will Jacks, who has represented both Surrey and MI in the IPL, describe the transition as seamless, with the new kit blending MI's blue and gold with Invincibles' training colours.
- Oval Invincibles rebranded as MI London after Mumbai Indians' investment
- Reliance bought a 49% stake for about £60m in January 2025
- MI London now valued at roughly £120m, second-highest in the Hundred
New here? Start with this
The Hundred is a short-format cricket competition in England and Wales, with separate men’s and women’s teams. Oval Invincibles represented Surrey’s home ground, The Oval, and won five titles across the two competitions before becoming MI London.
Mumbai Indians is a successful team in India’s Indian Premier League (IPL), part of a wider group of teams linked to the Ambani family’s Reliance Industries. Surrey still owns the larger share of MI London, while Reliance owns a 49% stake, bringing an international cricket brand into an English club.
The change matters because it links a long-established county club with a global cricket organisation, while raising questions about how the team’s identity and traditions fit with the new brand. MI London’s reported value also makes it one of the most valuable teams in the Hundred.
Both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The partnership brings substantial benefits to English cricket. Mumbai Indians' investment represents a £60m injection that has nearly doubled the club's valuation to £120m, alongside access to world-class expertise from a proven IPL franchise. The financial resources enable improved player development, infrastructure investment, and global networking opportunities that might otherwise be unattainable for domestic franchises. Players and executives confirm the transition has been seamless, with cultural heritage preserved despite the rebranding, whilst Surrey's majority shareholding ensures English cricket values remain central to governance.
The case against
The takeover raises legitimate concerns about English cricket's independence and cultural identity. The rebranding of Oval Invincibles—a franchise with historic roots—signals that regional distinctiveness is being sacrificed to global franchise homogenisation dominated by foreign capital. Whilst Surrey technically retains majority shareholding, the Ambani family's substantial minority stake and operational involvement may mean effective control lies elsewhere, with priorities potentially aligned more closely to IPL portfolio expansion than English cricket's long-term interests. Questions persist about whether foreign investment primarily benefits international shareholders rather than domestic cricket's independence.