IPL is one of the biggest sports events in the world. Several teams competing with their best domestic and international players. While which is the best team is quite a subjective matter, there is only one who has won the most IPLs. The Mumbai Indians team is owned by IMG-Reliance, the sports arm of Reliance Industries Ltd. Mukesh Ambani, Chairman of Reliance Industries, had bought the franchise of Mumbai Indians back in 2008 for over $100 million. Since then Reliance and Mumbai Indians have been inseparable.
Mumbai Indians is the most-valued franchise in the IPL. So much so that Mukesh Ambani is titled as the world’s second-richest sports team owner. The team has enhanced its reputation with its continual winning and non-controversial status. They have the best of the best players and an overall well-rounded team for every season.
Mumbai Indians and Reliance – The most fruitful partnership
When a franchise is bought in a humongous and extravagant sporting event like the IPL, there are several branches for a business to expand its earnings. Especially for IMG-Reliance, who own the best of the lot. A major chunk of the revenue is generated from sponsorships, central revenues, ticket collections and even merchandising deals. Along with that, teams like Mumbai Indians who have won the most IPLs are also awarded prize money.
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As of 2020, Mumbai Indians has won the most IPLs.
How are things going for Reliance and Mumbai Indians?
In the year 2020, the whole world was adversely affected by COVID-19. In IPL, the revenue generated with tickets was the lowest due to the coronavirus. Mumbai Indians still managed to close 36 sponsorships deals even in such an adverse situation. The revenue earned by the IMG-Reliance was record-breaking. They enriched their portfolios significantly in the sponsorship business despite being in the business for mere four years. Some of the official sponsors of Mumbai Indians for IPL 2020 were Balkrishna Industries Ltd (BKT), Usha International, Kingfisher, Colgate, William Lawsons, Dream11, MakeMyTrip, Boat, Mai Dubai, Performax, Reliance Foundation, DNA Networks, Radio City 91.1 FM and Fever 104 FM.
With millions of viewers watching IPL on television and other millions enjoying it on the OTT platform, the sponsorship business of IPL has grown many folds. IMG-Reliance holds one of the most popular and performance-driven teams in the IPL. This enables them to cash on revenues from all the spheres. Being the leading franchise of the IPL in 2020, its brand value is over 70 million dollars. In 2021, these numbers are only expected to get higher as with the coronavirus norms being eased and more people are likely to come to the stadiums as compared to the last year. Also, the television and OTT views of Mumbai Indians are soaring as high as their flooded stadiums. An estimate of around an increase to 77 million dollars in brand value alone is a possibility in 2021 along with more sponsorships and more ticketing revenue.
