Macfarlanes has advised Surrey County Cricket Club on a partnership with Reliance Industries Limited in respect of the Oval Invincibles franchise in The Hundred. 

This follows the ECB’s sale process under which Surrey acquired a 51% stake and Reliance acquired a 49% stake in the franchise. As part of the partnership, both the men’s and women’s teams will compete as MI London.

The partnership establishes the governance, commercial and branding framework between the co‑owners and forms part of the ECB’s programme to introduce private investment into The Hundred teams. Surrey County Cricket Club retains a 51% interest and Reliance holds 49% (through its subsidiary Reliance Strategic Business Ventures Limited). 

The Macfarlanes team was led by Corporate and M&A Partner Richard Burrows, with support from Senior Associate Ollie Morris and Associate Alexandra Gaynor. Advice on commercial aspects was led by Partner Rosie Duckworth, with support from Senior Associate Andrew Hill and Associate Katie Shingler. Finance advice was provided by Partner Andrew Perkins and Senior Associates Owen Giles and Nils Gravenhorst. 

Richard Burrows commented: “Congratulations to Oli Slipper (Chair), Steve Elworthy (CEO) and Andrew Lane (CFO) and to all the Investor Working group in securing this significant partnership with Reliance.  We are delighted to have advised Surrey CCC on the arrangements.  We look forward to seeing MI London continuing the legacy of the most successful franchise team in The Hundred - both on and off the pitch.”