Mumbai Indians, along with Chennai Super Kings, have won the IPL trophy five times and are the most successful franchises.

In January 2008, the BCCI unveiled the owners of eight city-based franchises. The Mumbai franchise was sold to the Reliance Industries Ltd (RIL) for $111.9 million, making it the most expensive team to be sold in the league.

Mumbai Indians won the five IPL trophies under the leadership of Rohit Sharma.

Initially, the team was supposed to be named "Mumbai Razors". And in fact, the logo of the team is the famous Sudarshan Chakra, or Razor. However, former Indian captain and Mumbai's team icon player Sachin Tendulkar had suggested the name, Mumbai Indians which was eventually accepted and made the team name.