The name has changed, the colours have changed and much of the conversation around the franchise has changed too.
Investment from Indian Premier League (IPL) side Mumbai Indians into Oval Invincibles led to The Hundred’s most successful team rebranding itself as MI London and bringing the multi-billionaire Ambani family’s cricket empire to The Oval.
Here, BBC Sport takes a look at what has changed, what has stayed the same and what the future holds for the franchise.
Reliance Industries Limited, chaired by Mukesh Ambani, bought a 49% stake in Oval Invincibles in a deal worth about £60m in January 2025, among the first sale of teams in The Hundred.
However, Surrey chief executive Steve Elworthy said their relationship with India’s wealthiest family began long before the bidding process got under way.
“They’ve been huge supporters of The Hundred for a number of years,” the former South Africa cricketer told BBC Sport. “They used to take our boardroom box every August to watch The Hundred when we were still Invincibles.”
Early conversations convinced Elworthy and his team they had found the right partner in the Ambanis.
“The first meeting we had, we spent about 45 minutes talking about just cricket,” Elworthy said.
At about £120m, MI London are the most valuable of the franchises after their London neighbours – the Lord’s-based London Spirit, who were valued at about £300m.
For the investors, the attraction must have been obvious.
The Oval is one of the world’s most recognisable sporting venues, Invincibles had won five titles across men’s and women’s competitions and Surrey regularly attracts some of the highest attendances in the county game.
“We do cricket well,” Elworthy said. “We’ve got an incredibly strong membership, incredible attendances across formats and we are based in London. It’s a really attractive proposition.”
As part of the deal, Invincibles were rebranded MI London, bringing the franchise in line with the rest of the MI stable that includes MI Cape Town, MI Emirates and MI New York.
But Surrey, who remain the major shareholder, were determined not to lose their identity.
Elworthy added: “The beauty of this partnership is that the agreement was signed in late 2025 and we are halfway through our first season together, but we haven’t even had to look at the contract once.
“We’re only looking to make this a success together.”