Reliance Industries Limited (RIL) purchased the rights for the Mumbai franchise of Indian Premier league for a total of Rs. 441 Cr ($ 112.9 m) during the auction on 24 January 2008. In what has been described by some as "the ultimate heights of laziness in name selection" and "like they chose the name by throwing darts on a wall" the franchise was eventually named the Mumbai Indians. While this is arguably a "tour de force" in ineptitude, the name does acknowledge that people from Mumbai are largely Indian, which in the club's defence, is somewhat true. The RIL bid has made the Mumbai Indians the most expensive franchise in IPL, and hence won the right to hold the semi-finals and the final in Mumbai. The team was unveiled on the 17th of April, 2008 in Mumbai.
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