Indian Premier League

The Indian Premier League, created by the Board of Control for Cricket in India (BCCI) and sanctioned by the International Cricket Council, is a Twenty20 cricket competition.

The league is scheduled to start in April 2008 and will last for 44 days, involving 59 matches. The prize money for the league will be around Rs 13 crore (US $3million).

Each team will have a pool of 16 players, with a maximum of eight foreign players and a minimum of four under-22 players. Additionally, at least four players must be from the catchment area where the team is based.

The governing council consists of Chairman and Commissioner Lalit Modi, Sunil Gavaskar, MAK Pataudi and Ravi Shastri, Rajiv Shukla, Chirayu Amin, Inderjit Singh Bindra and Arun Jaitley.

Although it is going to be a franchise system, some foreign players have already been contracted by the BCCI to play in the IPL.

Each team will play the other 7 teams home and away, the top four teams at the end of the group stages will proceed through to the semi finals.

Indian real estate developer DLF Universal secured exclusive rights to the Indian Premier League title sponsorship worth INR 200 crore (over US$50 million) for five years.

Sports broadcaster Sony Max and sports rights company World Sport Group have jointly paid US$1.026bn for the rights to the Indian Premeir League (IPL) cricket championship.

The deal gives the partnership shared rights to the series for 10 years, and brings with it a change of direction for Sony Max parent Sony Entertainment Television (SET), which previously backed the International Cricket Council (ICC) World Cup.

The magnitude of the Indian Premier League was confirmed when the winning bidders for the eight franchises were announced on January 24, 2008. While the total base price for auction was US$400 million, the auction fetched US$723.59 million. The official list of franchise owners announced and the winning bids were as follows.

Franchise Owner(s) Price (USD)
Bangalore
Royal Challengers
Dr. Vijay Mallya / UB group $111.6 million
Chennai
Super Kings
India Cements / N Srinivasan $91 million
Delhi
DareDevils
GMR Holdings $84 million
Hyderabad Deccan Chronicle $107 million
Jaipur Emerging Media (Manoj Badale, Lachlan Murdoch, Suresh Chellaram) $67 million
Kolkata Shah Rukh Khan,Juhi Chawla Mehta and Jay Mehta $75.09 million
Mohali Preity Zinta, Ness Wadia , Karan Paul (Apeejay Surendera Group) and Mohit Burman (Dabur) $76 million
Mumbai Mukesh Ambani/ Reliance Industries Limited $111.9 million

Continue reading