Mumbai Indians Owners Reliance Industries Limited (RIL) is set to buy a 49% stake in Oval Invinesals after winning the virtual auction on Thursday afternoon. RIL will enter the period of uniqueness that will see them interacting with Surrey, ECB and their financial advisors before completing the purchase.
The winning bid was understood for the 100% value of the franchise at £ 123 million, meaning that RIL would pay more than £ 60m for its 49% stake. The ECB refused to comment and was not expected to confirm successful bidders – or evaluation by next week. Surrey also refused to comment.
Espncricinfo understands that RIL saw a Silicon Valley Consortium (Google, Microsoft and Adobe’s main officials to include competing) and private equity firm CVC. Invinables, the two -time defending champion in the Mains Hundred, are the first team to be sold in the final round of the sale process of ECB.
The deal will see two heavyweight coming together of their respective markets: Mumbai Indians are widely seen as the most powerful IPL franchise, while Surrey is the richest English county club. After Mumbai Indians (both IPL and WPL), MI New York (MLC), Mi Cape Town (SA20) and Mi Emirates (LT20), Invininkbals will become the sixth team run by RIL.
The Ambani family -owned RIL was widely associated with buying a stake in the London Spirit, which is a hundred team based on Lord’s, but focused on the Invinables as a sales process. The host places were given the option to sell some of the 51% stake, which will be gifted by the ECB as part of the privatization process, but ESPNcricinpho understands that Surrey has placed the firm on its stand Will maintain control shares.
Among the failed bidder for invisibles, CVC is also considered in a dispute for the stake in Birmingham Phoenix, which will be for tombs later on Thursday. Meanwhile, the Tech Consortium will be in the mix for stake in London Spirit on Friday, but is facing competition from Sanjeev Goenka’s RPSG (owner of Lucknow Super Giants), Manchester United’s co-owner Ereum Glazer and Can International.
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