Reliance complete Invincibles deal; Oval franchise to be MI London

The Hundred has completed its final two franchise deals, with Reliance securing a 49% stake in Oval Invincibles and Cain & Ares finalising their investment in Trent Rockets. With these agreements, all eight teams in the competition now have strategic partners in place. These were the last two deals required under the ECB's new ownership model, after six franchise agreements were completed in July.

The England and Wales Cricket Board (ECB) also confirmed that both the men's and women's Oval Invincibles teams will be renamed MI London from the 2026 season.

The Trent Rockets investment, involving Nottinghamshire CCC and Cain & Ares, was closed in October. Surrey County Cricket Club and Reliance Strategic Business Ventures Limited (RSBVL) were the final parties to complete their paperwork, giving Surrey 51% and RSBVL 49% ownership of the franchise.

"The eight partnerships combined represent a valuation for the teams of over GBP 975 million. As previously announced, over GBP 500 million is now set to be invested into English and Welsh cricket. This includes a dedicated GBP 50 million commitment to grassroots cricket, ensuring the game continues to thrive at every level, with the remainder distributed to professional counties," the ECB said in a media release.

"Consistent with deal completions, newly formed TeamCos comprising the investors and the venue will assume operational control of their respective franchises. In most cases, they will operate their franchise in The Hundred in partnership with the host club."

Vikram Banerjee, Managing Director of The Hundred, said: "It's an exciting moment to now have all eight deals complete. The world-leading partners we now have on board will help us take The Hundred to the next level and establish it as the unmissable summer event.

"We're already working closely together as we aim to make the 2026 season of The Hundred the best yet. It's also an important moment for the whole of the game in England and Wales, unlocking significant investment to support the game at every level."

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