Indian Premier League - Mumbai Indians suffers loss of Rs 15.42 crore in 2010-11
Mumbai Indians owners, Indiawin Sports, has suffered a loss of 15.42 crore for the year 2010-11. Indiawin Sports, who are subsidiaries of Reliance Industries Limited (RIL), won the bid as a franchisee for IPL sponsored 20-20 http://www.senore.com/Cricket/Mumbai-c820 Team.
RIL disclosed financial details of Mumbai Indians in their annual balance sheet for the fiscal year that started on April 1, 2010 and ended on March 31, 2011. According, to financial reports Indiawin has assets of Rs. 65.28 crore, while their income at year’s
end is Rs. 112.80 crore.
Indiawin, who were an associate of RIL in 2009-10, has about 98.3 percent shares of Mumbai Indians as opposed to 50 percent in the previous year. The rest of the shares are held by other joint ventures of Reliance Industries Limited.
Mumbai Indians are led by iconic Indian cricketer, Sachin Tendulkar, and are placed at first spot in IPL’s fourth edition. They have secured 16 points by winning eight matches from a total of 11 played. They still have three more matches to play.
MI also topped the points table in IPL-3 but lost the finals to Chennai Super Kings. Speaking about Mumbai Indians performance RIL said, “MI registered the most number of wins in Season 3 of the Indian Premier League, and reached the finals. MI has been
the most followed team in the IPL and enjoys a huge global fan base”.
Mumbai Indians was one of the most expensive teams in the first three editions of the league. They spent huge money in securing the services of some of the biggest names in cricket and this led Indiawin to be heavily indebted to RIL.
In the fiscal year ending in March 31, 2010 RIL loaned them Rs. 44.60 crore, while in 2009 they received Rs. 57.73 crore. However, this time around RIL did not lend any loan to franchise owners.
Mumbai Indians made a couple of changes to their squad for IPL-4. One of the key names missing was of http://www.senore.com/Cricket/Andrew-Symonds-c44611 ($850,000), and, Rohit Sharma
($2.1 million). Sachin, http://www.senore.com/Cricket/Harbhajan-Singh-c61453, and, Lasith Malinga were retained by MI.
Mumbai Indians are assured of a place in the semi-final and had a chance to experiment with their line-up in the remaining three games but they still played a full strength side against Kings XI Punjab on May 10, 2011. The match was played at Punjab Cricket
Association Stadium, Chandigarh, and saw the home side upsetting league leaders by 76 runs.
http://www.senore.com/Cricket/Punjab-c833 posted 163 runs on the board while Mumbai were all dismissed in 12.5 overs for 87 runs. Bhargav Bhatt shined for Punjab, as he took four wickets, and, conceded 22 runs. This performance of his won him the man of the match award.
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