IPL 2023: Cost of all 10 teams in the tournament

3. Mumbai Indians – 850 crores

According to Hindustan Times, Mukesh Ambani put a bid of 850 crores ($111.9 Million) for buying the Mumbai Indians in 2008, which was the highest amount spent by any owner in the first auction for the IPL teams. The businessman, Ambani is the managing director of Reliance Industries, having a presence in the energy, petrochemicals, natural gas, retail, telecommunications, and renewable energy sector.

In 2021, Ambani arranged chartered flights to send the players back to their homes after the postponement of the tournament due to Covid-19 concerns. With the Mumbai Indians securing five title victories, they are undoubtedly one of the best teams in the tournament’s history, and their brand value has been on a rising trajectory as well.

In 2022, Ambani was reported to have been one of the probable applicants to bid for the Indian Premier League media rights from the 2023 to 2027 season.