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New Delhi: Reliance Industries on Wednesday said it has acquired a franchise in Cricket South Africa’s upcoming T20 league. Based in Cape Town, the new franchise will take forward the Mumbai Indians IPL cricket team brand, the company said.

“I’m delighted to welcome our new T20 team to the Reliance family. We are excited to take the Mumbai Indians’ brand of fearless and entertaining cricket to South Africa, a nation that loves cricket as much as we do in India! South Africa has a strong sporting ecosystem, and we look forward to exploring the power and potential of this collaboration. As we grow MI’s global cricketing footprint, we remain committed to spreading joy and cheer through sport," said Nita Ambani, director of Reliance Industries.

Wednesday's announcement comes close on the heels of acquiring the UAE-based International League T20 team.

“With our South African franchise, we now have three T20 teams across three countries. We look forward to leveraging our expertise and depth of knowledge in the cricket ecosystem and brand Mumbai Indians to help build the team and provide fans with some of the best cricketing experiences," Akash Ambani, chairman of its subsidiary Reliance Jio, said.

India’s sports media and sponsorship industry reached about 95 billion in FY20 but will be growing to reach 150 billion by 2024.

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