Reliance acquires another women’ cricket franchise

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Reliance acquires another women’ cricket franchise

Mukesh Ambani-led Reliance Industries has acquired another cricket franchise. The conglomerate has offered the price of 912.99 crore through its subsidiary Indiawin Sports Private Limited for the Mumbai-based franchise of the inaugural Women's Premier League WPL This makes it the fourth MI-branded franchise in the Reliance stable, after Mumbai Indians in IPL MI Cape Town in South Africa T 20 League and MI Emirates in UAE International League T 20 Welcoming the women s cricket team to the MI OneFamily, said RIL Director Nita Ambani, India s women cricketers This new Women's League will shine a spotlight on the talent, power, and potential of our girls. Reliance Jio Chairman Akash Ambani said that as we bring the MI experience and best practices into the women's game, we look forward to seeing our women's team excel and inspire future generations of female athletes. Reliance's interest in cricket is hardly new. Besides running multiple franchises, the oil-to- telecom conglomerate also owns the rights to several high-profile cricket events, including the IPL and the WPL which will begin in March 2023, while RIL has paid Rs 913 crore for its latest cricket acquisition, it is estimated to have coughed up nearly 93 crore via its subsidiary Reliance Strategic Business Ventures for franchises in the South African and the UAE leagues.

Mumbai Indians are one of the most valuable IPL franchises. In 2022, Brand Finance, a global brand valuation agency, valued MI at a whopping $1.3 billion. According to Forbes, Mumbai Indians are worth more than six MLB teams, 27 NHL teams and every MLS team. MI revenues were estimated to be in the range of $33 million.

In a previous statement, UAE T20 League Chairman Khalid Al Zarooni said that RIL has the legacy with a proven track record in establishing the most successful team in franchise cricket and that RIL has a growing interest in the global cricket ecosystem. The League of a vanguard like RIL shows the confidence in our system and the strength of our infrastructure to deliver world-class events. Ambani is spreading his wings in other sports as well, not just cricket. Last year, Reliance Industries was rumoured to be the frontrunner to join English Premier League club Liverpool.

RIL also runs the Indian Super League ISL along with the All India Football Federation. It has partnered with the Indian Olympic Association and the Athletics Federation of India to support athletes.