<a href="https://www.thenationalnews.com/sport/ipl/" target="_blank">Indian Premier League</a> franchise owners Reliance Industries – who own the <a href="https://www.thenationalnews.com/tags/mumbai-indians/" target="_blank">Mumbai Indians</a> side and have also bought a team in UAE's ambitious T20 league – on Wednesday announced the name of their new outfit. The International League T20 tournament is set for a grand launch in January 2023. Some of the biggest entities in franchise cricket – Reliance Industries (owned by billionaire Mukesh Ambani), Kolkata Knight Riders, Capri Global, GMR, Lancer Capital, and Adani Sportsline – have acquired teams in the league. Also, a <a href="https://www.thenationalnews.com/sport/cricket/2022/08/08/uaes-ilt20-announces-dazzling-line-up-of-stars-including-andre-russell-and-moeen-ali/" target="_blank">star-studded list of marquee players</a>, including Andre Russell and Moeen Ali, was unveiled for the inaugural edition. On Wednesday, the ILT20 took another step forward with the announcement that conglomerate Reliance Industries' franchise will be called ‘MI Emirates’. It was also announced that the company's team in South Africa's T20 league will be called ‘MI Cape Town’. Nita Ambani, director of Reliance Industries and the face of their T20 franchise division, said: “It gives me great pleasure to welcome ‘MI Emirates’ & ‘MI Cape Town’, the newest additions to our #Onefamily. "For us, MI goes beyond cricket. It embodies the ability to dream, be fearless and foster a positive attitude in life. I am sure that both MI Emirates and MI Cape Town will embrace the same ethos and take MI’s global cricket legacy to even greater heights.”