Reliance Industries Limited-owned Mumbai Indians have revealed the acquisition of a new cricket franchise called MI New York, adding to their collection of cricket franchises across the world. MI New York will participate in the upcoming T20 league in the US called Major League Cricket, if certain conditions such as regulatory and third-party approvals, execution of agreements, and due diligence are completed.
MUMBAI INDIANS NOW HAS FRANCHISES IN 5 DIFFERENT LEAGUES
Mrs. Nita Ambani said:
“I am thrilled to welcome our New York franchise to the growing MI Family! With our entry into the first cricket league in the US, I hope we are able to establish Mumbai Indians as a global brand of fearless and entertaining cricket! This is another new beginning for MI and I look forward to the exciting journey ahead.”
MI New York is the fifth cricket franchise of Mumbai Indians. They have now teams in the IPL, SA20, ILT20, and WPL. Mumbai Indians are a popular cricket brand with close to 50 million digital fans supporting their #Onefamily teams across the globe. They have grown in brand value and are a preferred partner for global brands. Major League Cricket will be the first professional T20 cricket championship in the United States.
With almost 50 million digital fans worldwide, Mumbai Indians has become a highly sought-after cricket franchise. The team’s brand value has grown by 99% since 2009, according to Brand Finance.
There are six franchises in the Major League Cricket (MLC) in the United States. These franchises are located in six different cities – Dallas, San Francisco, Los Angeles, Washington D.C., Seattle, and New York City. Each of these franchises has a salary cap of $1.5 million, which they can use to secure a total of 18 players. Out of the 18 players, they can have a maximum of seven overseas players in their team.
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