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.
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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…
