Mumbai Indians owners win bid for 49% stake in Oval Invincibles
Mumbai Indians owners Reliance Industries Limited (RIL) are set to buy a 49% stake in Oval Invincibles after winning a virtual auction on Thursday afternoon. RIL will enter into a period of exclusivity which will see them negotiate agreements with Surrey, the ECB and their financial advisors before completing the purchase. Reports on Thursday night suggested that Knighthead Capital, the US-based hedge fund, were the successful bidders in the process…