• India’s richest family, the Ambanis, own Mumbai Indians
• Oval team are first of eight to be sold in landmark auction

The Ambanis, India’s wealthiest family and the owners of Mumbai Indians, have secured a 49% stake in Oval Invincibles after a landmark day for English cricket that saw the sale of the eight Hundred teams get under way.

The winning bid by Reliance Industries Ltd, chaired by Mukesh Ambani, is widely understood to be worth about £60m, placing the overall value of the Invincibles at £123m. Reliance will now enter a period of exclusive talks with Surrey and the England and Wales Cricket Board in order to complete the deal.