The Hundred’s Oval Invincibles & Birmingham Phoenix secure investment
The Hundred’s Oval Invincibles and Birmingham Phoenix have both sold shares during an auction led by the England & Wales Cricket Board (ECB) on Thursday 30th January, according to multiple reports.
Reliance Industries Limited, which is owned by multi-billionaire Ambani family, has agreed to acquire a 49% stake in the Oval Invincibles, the reigning men’s Hundred champions. The acquisition sees the family add to their ownership portfolio, which includes Indian Premier League (IPL) team the Mumbai Indians.
Meanwhile, Knighthead Capital were successful in their bid for a 49% share in the Birmingham Phoenix. The New York-based group, which includes NFL icon Tom Brady, completed a takeover of Birmingham City back in 2023.
According to The Guardian, US private equity firm CVC Capital Partners had also bid for the Phoenix, before losing out to Knighthead.
The Invincibles are reportedly valued at £120m, with the 49% stake worth around £60m. The Phoenix have a valuation of £80m, meaning Knighthead’s investment in the club is worth around £40m.
Surrey County Cricket Club and Warwickshire Cricket Club, the respective host clubs of the Invincibles and Phoenix, will both retain their 51% shares in the franchises, which were given to them by the ECB.
Following this week’s auction, the successful bidders will now enter an eight-week period of exclusivity in order to finalise their investments.
Since The Hundred launched in 2021, the 100-ball cricket competition has been aiming to revamp the sport, in a bid to appeal to female and younger audiences. It is now seeking private investment across all of its franchises.
At the recent Sport Industry Report 2025 launch event, ECB Chair, Richard Thompson revealed that he expects the total sum of The Hundred franchise sales to be “comfortably above £350m,” the figure the ECB rejected for the whole tournament last year.
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