Reliance completes Invincibles deal; Oval franchise to be MI London

The Hundred has finalized its last two franchise agreements, with Reliance acquiring a 49% stake in Oval Invincibles and Cain & Ares completing their investment in Trent Rockets. All eight teams now have strategic partners in place, fulfilling the ECB's new ownership model after six deals were secured in July.

The ECB confirmed that both the men's and women's Oval Invincibles teams will be renamed MI London starting in the 2026 season.

The Trent Rockets investment, involving Nottinghamshire CCC and Cain & Ares, was finalized in October. Surrey County Cricket Club and Reliance Strategic Business Ventures Limited (RSBVL) completed their agreement, with Surrey holding 51% and RSBVL 49% ownership.

The ECB stated: "The eight partnerships combined represent a valuation for the teams of over £975 million. Over £500 million is now set to be invested into English and Welsh cricket, including a dedicated £50 million commitment to grassroots cricket, with the remainder distributed to professional counties."

Newly formed TeamCos, comprising investors and the venue, will assume operational control of their respective franchises, typically 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."