This paper demonstrates a novel multi-motor condition monitoring scheme which can substantially reduce implementation cost for some industrial plants. The proposed multi-motor condition monitoring scheme builds on top of the technology implemented in modern Intelligent Electronic Devices (IEDs) for motor protection and control. The backbone of this scheme is broadly accepted Ethernet technology and the IEC 61850 communication standard. Due to the widespread use of IEC 61850 in various industries, cost of the technology is significantly reduced while reliability has been improved.