logo
Oval Invincibles' investor talks stall £520m cricket windfall

Oval Invincibles' investor talks stall £520m cricket windfall

Yahoo5 days ago
Unresolved talks between India's richest family and the county cricket club which hosts the Oval Invincibles Hundred team are threatening to delay the delivery of a vast windfall for the sport.
Sky News has learnt that RISE Worldwide - a subsidiary of the Ambani family's vast conglomerate, Reliance Industries - and Surrey County Cricket Club have yet to agree on several key issues relating to the sale of a 49% stake in one of the competition's most lucrative franchises.
Cricket insiders said on Tuesday that the name under which the team would play upon completion of the deal was among the outstanding issues.
Money latest:
Reliance owns the Indian Premier League's Mumbai Indians, as well as teams in South Africa, the UAE and the US.
One source said that talks between RISE Worldwide and Surrey were not at a complete impasse but could still take time to resolve, even as English cricket's governing body is keen to announce that a £520m windfall for the sport had been finalised.
The Indian billionaires agreed to pay roughly £60m for a 49% stake in the Oval Invincibles, with Surrey CCC retaining ownership of the remaining 51%.
In a statement issued at the time the deal was struck, Akash Ambani said: "We are glad to be part of Oval Invincibles-the most successful team in The Hundred-and welcome them into the Mumbai Indians family.
"England, with its rich cricketing culture, has always been special to the game.
"To have the iconic Oval, which has witnessed some of cricket's greatest moments, as our home venue is truly special.
"We look forward to collaborating with like-minded partners, Surrey CCC, who share our passion and ethos for the sport."
On Tuesday, sources indicated that the remaining issues between the Indian investors and Surrey CCC could be resolved imminently.
The England and Wales Cricket Board (ECB) has been waiting for investors in the eight Hundred franchises to sign participation agreements for several months following an auction in February which valued the participating teams at just over £975m.
The proceeds of its stake sales will be distributed to all of English cricket's professional counties as well as to the grassroots game.
The windfalls are being seen as a lifeline for many cash-strapped counties which have been struggling under significant debt piles for many years.
Each group of investors in the Hundred - where host counties include Nottinghamshire and Yorkshire - has been asked to sign a venue hire agreement and shareholder agreement with the owner of the venue at which their team plays.
Sources said that RISE Worldwide had yet to formally sign these two contracts with Surrey CCC.
Oli Slipper, Surrey CCC's chair, said in February: "We said at the outset that we wanted the best partner to ensure that Surrey continue to lead the way in English cricket and in Mumbai Indians that is what we have got.
"They share our passion for cricket, they own the biggest and most successful team in the IPL, the Mumbai Indians, and we believe this partnership will bring continued success to both Surrey CCC and our Hundred team.
"Beyond cricket, the huge success of RIL's global business will help Surrey to thrive off the field too."
The most valuable Hundred sale saw a group of technology tycoons, including executives from Google and Microsoft, paying about £145m for a minority stake in Lord's-based London Spirit.
A majority of the new investors in the Hundred have now agreed to revised terms with the ECB, after negotiations which will result in the host venues retaining control of their teams' intellectual property rights.
Investors will also hold an effective veto over future expansion of the Hundred, while the ECB will be barred from launching any other short-form professional version of the sport while the Hundred remains operational.
Some details relating to future broadcast rights have yet to be completely finalised.
Surrey CCC and the ECB declined to comment, while RISE Worldwide could not be reached for comment.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Liverpool's BIGGEST transfer decision that Richard Hughes needs to get right
Liverpool's BIGGEST transfer decision that Richard Hughes needs to get right

Yahoo

time20 minutes ago

  • Yahoo

Liverpool's BIGGEST transfer decision that Richard Hughes needs to get right

Liverpool are constantly evaluating their plans and nothing if ever really set in stone. In modern football, you have to be adaptable and the club will want all of their bases covered. LFC Kits Shop Now LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now Positions of need have been addressed this summer, notably left-back, right-back and striker, in addition to bringing in a promising goalkeeper who can push Alisson over the next few years. But each of the decisions you make in the transfer market have a direct influence on the prospects of your academy talents, making it harder or easier for them to eventually get a chance in the first-team. When an extraordinary talent comes around, you have to make sure to not block their pathway. Ngumoha needs a chance in Arne Slot's side this season In 16-year-old Rio Ngumoha, Liverpool have a potential generational player, who is already delivering at levels far beyond his age. Pre-season has fans incredibly excited about what he could become. Playing at left-wing, the teenager is comfortable taking on his man and creating his own space in tight offensive situations. These are the type of attributes that give you goosebumps as an onlooker. Liverpool need to have different dynamics in the side and a piece of individual brilliance can sometimes be enough to crack open a game. Ngumoha is very much capable of delivering that. Of course, he is still incredibly young and his game will need to mature before he gets a real crack at breaking into the first team, but you feel his raw talent can make a difference for us already.

Woad wins on pro debut as Aussie challenge withers away
Woad wins on pro debut as Aussie challenge withers away

Yahoo

time20 minutes ago

  • Yahoo

Woad wins on pro debut as Aussie challenge withers away

Lottie Woad has claimed her first professional victory on her debut by winning the Women's Scottish Open title by three shots. There was little cheer for Australia, however, with Karis Davidson, Cassie Porter and Minjee Lee all finishing bunched in joint 21st, 16 shots adrift of Woad. Davidson, after firing a stunning 66 on Saturday, and Porter, had been 10 shots behind the leader going into the final round. Lee, who had been joint third after the opening day, had slipped to joint 27th after her penultimate round before going round in 71 to marginally improve her final standing. Hoist it high, @LottieWoad. You've earned it 👏 — LPGA (@LPGA) July 27, 2025 Woad, the 21-year-old former world No.1 amateur from Surrey finished with a final round score of 68 after four days of competition at Dundonald Links. It was her first victory since turning professional earlier in July. She entered the final round with a two-stroke lead and made birdies on the second, third, 13th and 14th before hitting a bogey on the 16th. Woad made par on the 17th before a pinpoint approach set up a birdie on the 18th to wrap up the title. She becomes the first player to win on their professional Ladies European Tour debut since Singapore's Shannon Tan, at the Magical Kenya Ladies Open in February 2024. Woad said on Sky Sports: "It's a pretty good outcome, I guess! Definitely wasn't expecting to win my first event, but I knew I was playing well so I was kind of hoping to contend. "I played really solid today. It was pretty nice in the end, could lay up on the par five. "Links golf is really fun, don't get to play it too often. This is my first time playing links golf since the Open last year. I wasn't exactly sure how it would go, but it went fine!" Woad finished three shots ahead of second-placed Kim Hyo-joo, who fired seven birdies and three bogeys in a mixed fourth round. Julia Lopez Ramirez and Kim Sei-young shared third on 14 under, with world No.1 Nelly Korda a shot back in fifth. English duo Alice Hewson and Charley Hull finished tied for 10th and 21st, respectively. Attention now turns to the Women's Open at Royal Porthcawl, which begins on Thursday. Looking ahead to that tournament, Woad added: "Even if I hadn't won this week, I'd still be trying to win it and just trying to be up there really is all you can ask for going into the final day."

England fans watch on nervously as Lionesses fall behind in final
England fans watch on nervously as Lionesses fall behind in final

Yahoo

time20 minutes ago

  • Yahoo

England fans watch on nervously as Lionesses fall behind in final

England supporters watched on nervously as the Lionesses once again found themselves behind in a crucial Euros tie. Fans draped in England flags joined the Prince of Wales and his daughter Princess Charlotte in holding their heads in their hands as Mariona Caldentey put Spain 1-0 up in the final on Sunday. William and Charlotte were pictured in Switzerland for the Euros final as the royal family led the nation in wishing good luck to England's Lionesses. Shortly before kick-off, an image of the pair was posted on the Prince and Princess of Wales's X account with the caption 'let's go, Lionesses'. As Caldentey's header found the net in the 25th minute, William and Charlotte were pictured with their heads in their hands and crowds in fanzones across England fell silent as they watched proceedings. Before kick-off, supporters waved England flags and loudly sang the national anthem at Boxpark Croydon and star striker Michelle Agyemang's former team, Brandon Groves Community Club in Essex. Agyemang, 19, who had one England cap before the tournament, scored crucial equalisers in the Lionesses' quarter-final and semi-final comebacks. Ahead of the game, 11-year-old Violet Ingram, a left winger for Brandon Grove Emeralds, said: 'Seeing her (Agyemang) and the team just makes me feel like I can do anything I want to do.' The Prince of Wales, who is patron of the Football Association (FA), applauded the national anthem as he stood next to Charlotte in the stadium. In a show of support ahead of the final, the Band of the Grenadier Guards performed Three Lions on the Buckingham Palace forecourt, while the royal family's official X account posted: 'Wishing the very best of luck to the @Lionesses in the Women's Euro Final this evening.' William posted a good luck message on Saturday which read: 'Good luck to the Lionesses tomorrow. 'The nation is so proud you are through to the final, after some stunning comebacks! We are all cheering you on! W.' After England beat Italy 2-1 in the semi-final in Geneva on Tuesday evening, the King and Queen wished the team their 'warmest congratulations'. Charles said: 'Knowing the Lionesses' fighting spirit, I suspect we are in for another thrilling encounter on Sunday. 'Your achievements continue to inspire countless girls and women across the nation, proving once again that with dedication and teamwork, anything is possible. 'Good luck, England. May you roar to victory once more. Charles R.' Prime Minister Sir Keir Starmer said: 'Into the final and inspiring the nation. Let's bring it home.' He said the team had 'changed the game – breaking barriers, making history and inspiring the next generation.' 'Tonight, the whole nation will be behind them. Come on England!' Sir Keir said. Meanwhile, cricketer Joe Root wished the Lionesses' the 'very best of luck' in an online message, adding: 'It's been great to watch you play throughout the tournament.' Olympic 800m champion Keely Hodgkinson said the team has 'absolutely smashed it', adding that 'everybody is so proud of you'. Meanwhile, BBC Sport and ITV have secured the broadcasting rights for the Women's World Cup 2027, meaning the tournament will remain free-to-air for UK viewers. England's path to the final has been marked by late drama. They sealed their spot with a last-gasp extra-time win over Italy, following a penalty shootout victory against Sweden in the quarter-finals after nearly crashing out in extra time. The Lionesses will be looking for redemption against Spain, who edged them 1-0 in the 2023 Women's World Cup final. England boss Sarina Wiegman said the team is 'going to do everything we can to win it' and she would prefer to avoid a 'nerve-wracking' match.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store