Deals have now been completed with strategic partners for all eight teams in The Hundred, marking a new era for the competition.

The deal with Cain & Ares Management Credit funds (“Ares”) for a stake in Trent Rockets, partnering with Nottinghamshire County Cricket Club, completed in October.

Meanwhile, Surrey County Cricket Club and Reliance Strategic Business Ventures Limited, a wholly owned subsidiary of Reliance Industries Limited, today announced their partnership. This follows the completion of a deal which gives the organisations 51% and 49% stakes in the franchise, respectively. The two parties have announced that from 2026, both teams of Oval Invincibles will be known as MI London.

Six deals had previously been announced, meaning teams in The Hundred have now officially welcomed eight new strategic partners. It brings world-class expertise from across global sport, media, technology, and finance into the competition, helping take it to the next level.

The eight partnerships combined represent a valuation for the teams of over £975 million. As previously announced, over £500 million is now set to be invested into English and Welsh cricket.

This includes a dedicated £50 million commitment to grassroots cricket, ensuring the game continues to thrive at every level, with the remainder distributed to professional counties.

The completed eight deals are:

  • Birmingham Phoenix – Knighthead Capital Management, LLC, on behalf of its investors (“Knighthead”) (49%)
  • London Spirit – Tech Titans (49%)
  • Manchester Originals – RPSG Group (70%)
  • Northern Superchargers – Sun TV Network Limited (100%)
  • Oval Invincibles – Reliance Industries Limited (through its wholly owned subsidiary Reliance Strategic Business Ventures Limited) (49%)
  • Southern Brave – GMR Group (49%)
  • Trent Rockets – Cain & Ares (49%)
  • Welsh Fire – Washington Freedom (50%)

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.

 

Trent Rockets – Cain & Ares:

Mark Affolter, Co-Head of Ares’ Sports, Media & Entertainment strategy, said: “We are pleased to complete our investment in the Trent Rockets alongside Nottinghamshire CCC and Cain. In less than five years, The Hundred has established itself as a leading cricket league, and we look forward to supporting the Trent Rockets through our flexible capital and other resources as the team goes from strength to strength.”

Jonathan Goldstein, co-founder and CEO of Cain, said: “Since inception, The Hundred has brought something new to the game and Trent Rockets is well placed to be a driving force behind the competition’s next chapter. This is a club with real ambition and a clear drive to win, both on the men's and women's sides. We are proud to support the team's continued growth in partnership with Nottinghamshire County Cricket Club and Ares, and we look forward to helping The Hundred connect with more fans across the country.”

 

Oval Invincibles – Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited:

Mrs Nita M. Ambani said: “We are delighted to welcome MI London into the #OneFamily and take the MI legacy to new frontiers. London holds a special place in the heart of cricket, and we are honoured to be part of its rich heritage. Together with Surrey, we look forward to nurturing young talent, engaging diverse communities, and uniting fans through their shared love of the game.”

Mr Akash Ambani said: “We are happy to welcome MI London into the #OneFamily, marking a new chapter in our journey of uniting cricket fans, nurturing talent, and growing the game across continents. The Invincibles’ winning record and spirit of excellence perfectly embody the MI ethos of passion, resilience, and teamwork. Building on our shared passion for cricket, we look forward to collaborating with our partners at Surrey CCC and building on the legacy of The Hundred’s most successful team.”

 

Vikram Banerjee, Managing Director, 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.”