Mumbai Indians, owned by Reliance Industries Limited, has announced the acquisition of a fifth cricket franchise – MI New York. MI now have a cricket franchise in three different continents, four different countries, and five different leagues. The team will participate in the inaugural edition of Major League Cricket (MLC), the upcoming T20 league in the US, subject to completion of customary due diligence; negotiation, and execution of definitive binding agreements, and receipt of required corporate, regulatory and third-party approvals and compliances. Mrs. Nita. M. Ambani said, "I am thrilled to welcome our New York franchise to the growing MI Family! With our entry into the first cricket league in the US, I hope we are able to establish Mumbai Indians as a global brand of fearless and entertaining cricket! This is another new beginning for MI and I look forward to the exciting journey ahead."