Chennai: Eight franchised city-based teams will feature in the BCCI-backed Indian Premier League (IPL). The star-studded 59-match Twenty20 cricket competition will be held over 44 days in April and May.
BCCI vice-president and IPL chairman Lalit Modi announced in Mumbai on Thursday that Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mohali and Jaipur would be the teams.
Mukesh Ambani’s Reliance Industries Limited won the Mumbai franchise, with the most expensive bid of $111.9 million.
Vijay Mallya’s UB Group was close behind with a $111.6 million bid for Bangalore.
The other bids were won by Deccan Chronicle ($107 million for Hyderabad), India Cements ($91 million for Chennai), GMR Group ($84 million for Delhi), Shah Rukh Khan’s Red Chillies Entertainment ($75.09 million for Kolkata), Preity Zinta, Ness Wadia, Karan Paul and Dabur’s Mohit Burman ($76 million for Mohali), and Emerging Media ($67 million for Jaipur).
The tournament has a pool of nearly 80 international cricketers, and the franchisees will take part in an auction for the players next month.
The Sony Television network and the Singapore-based World Sports Group have purchased the event’s television rights for the next 10 years for $1 billion.