Mumbai Indians have bought their sixth franchise and the first in England after they purchased 49 percent of stake in the London-based Oval Invincibles, who is a part of Hundred League.

As per a report by Cricbuzz, the owners of the Reliance Industries Limited (RIL) purchased the team for 123 million pounds. The Surrey county club manages the franchise and will continue to be a majority stakeholder. The England Cricket Board was not expecting such a big figure.

The owners of MI defeated CVC, who are the owners of the Gujarat Titans in the Indian Premier League and a consortium involving Google, Microsoft, and Adobe.The Invincibles are the first franchise to go private. Birmingham Phoenix, London Spirit and Welsh Fire will also welcome new owners.

Sanjiv Goenka, who is the owner of the Lucknow Super Giants and the Glazers Family are also looking forward to buying teams.

London have two teams, with The Invincibles and The Spirit competing in the tournament.

All eight teams in the Hundred will be sold. Each team in the Hundred has a men’s and women’s franchises.

Mumbai Indians men’s (IPL) and women’s (WPL), MI Cape Town (SA 20), MI Emirates (ILT20), MI New York (MLC) and The Oval Invincibles are six franchises owned by the Reliance Industries Ltd.

The Invincibles have won both the men’s and women’s titles twice, respectively.