India, May 24 -- The Mumbai Indians did not have a harmless bad season. They had an expensive, bad season.

That distinction matters because this was not a rebuilding side with a thin squad, a low-cost core or a young group learning on the job. MI entered IPL 2026 with the weight of their five-title history, a celebrated Indian spine, expensive overseas bowling options and enough auction muscle to expect a serious playoff push. They did not get one. Their tournament ended with a defeat to the Rajasthan Royals, and the financial ledger makes the failure look even worse than the points table.

MI did not merely underperform. They paid premium prices for ordinary returns.

As MI's tournament is complete, the full auction price must be counte...