Sky News can exclusively reveal that the Ambani family, who have a fortune estimated to be tens of billions of dollars, triumphed in a live three-way auction conducted by the England and Wales Cricket Board (ECB) on Friday.

The price that the Ambanis agreed to pay for the ECB stake was unclear, although sources said it was understood to have valued 100% of Oval Invincibles at approximately £125m.

If that price is confirmed, the roughly £60m accruing to the ECB would set a benchmark for the sale of the governing body’s stakes in the remaining seven teams to be conducted over the next week.

The Mumbai Indians’ owners triumphed after competing against a group of technology billionaires including the bosses of Google and Microsoft.

CVC Capital Partners, the private equity firm that has been a prolific investor in elite sport ranging from Formula One to volleyball, was also slated to take part in the auction.

The outcome, which may not be formally announced until next week, will see the Ambanis emerge among the most powerful stakeholders in English cricket.

One insider said the Mumbai Indians would gain significant governance rights over the cricketing aspects of the Oval Invincibles team.

The Oval Invincibles’ men’s team, captained by Sam Curran and featuring England internationals such as Gus Atkinson, is expected to fetch the second-highest price of any of the teams, behind Lords-based London Spirit, which will see the ECB’s stake sold on Friday.