The BCCI launched the Indian Premier League (IPL) on the lines of football's English Premier League and the National Basketball League (NBA) of the US.
The IPL is a professional Twenty20 cricket league created and promoted by the BCCI and backed by the ICC. The Twenty20 league is set to debut in April 2008, with eight teams comprising a minimum of 16 players each.
The IPL works on a franchise-system based on the American style of hiring players and transfers. These franchises were put for auction, where the highest bidder won the rights to own the team, representing each city.
The auction for the same took place on January 24, 2008 and the total base price for the auction was $400 million. The auction went on to fetch $723.59 million.
The Mumbai franchise owned by Mukesh Ambani's Reliance Industries Limited (RIL) was the most expensive franchise ? fetching $111.9 million closely followed by Vijay Mallya's United Breweries which paid $111.6 million for the Bangalore franchise .
Media house Deccan Chronicle won the Hyderabad chapter of the IPL for $107 million, while India Cements' Chennai franchise cost $91 million.
Bollywood also made its presence felt with two of its leading stars bagging the ownership of their respective teams ? Shah Rukh Khan and Juhi Chawla's Red Chillies Entertainment buying out Kolkata for $75.09, while Preity Zinta and her beau Ness Wadia bought the Mohali team for $76 million.
GMR , the infrastructure development group which who are involved in a project for revamping the Delhi airport, bagged the ownership of the Delhi team for $84 million and the Emerging Media , consisting of its CEO Fraser Castellino, Manoj Badale and Lachlan Murdoch and other investors won the rights for the Jaipur franczhise for $67 million.
1) Bangalore Royal Challengers: The Bangalore team was bought by Vijay Mallya's UB Group for $111.6 million to own the team for 10 years. 'Icon player' Anil Kumble is the captain of Bangalore Royal Challengers.
- Anil Kumble Rahul Dravid Manish Pandey Balachandra Akhil Praveen Kumar Viany Kumar Virat Kohli Jacques Kallis Ross Taylao Dale Willem Steyn Roelof Van Der Merwe Mark Boucher Robin Uthappa Rajesh Bishnoi Pankaj Singh Shreevats Goswami K P Appanna Jesse Ryder Kevin Pietersen Wasim Jaffer Dillon Du Preez Ishank Jaggi Jagadeesh Arunkumar Sreesanth Aravind Sunil Joshi Udit Patel Bhuvanesh Kumar
- Abhimanyu Mithun
Coach ? Ray Jennings
2) Kings XI Punjab: The Mohali team was bought by Bollywood diva Preity Zinta, her industrialist beau Ness Wadia, along with renowned industrialists Karan Paul and Mohit Burman for $76 million for a period of 10 years. 'Icon player' Yuvraj Singh is the captain of Kings XI Punjab. Australia's Tom Moddy is the coach of the team.
Kings XI Punjab Team
- Yuvraj Singh Irfan Pathan Sreesanth R Powar V.R.V. Singh P. Chawla Karan Goel Uday Kaul Wilkin Mota Ajitesh Argal Tanmay Srivastava Sunny Sohal Ryan Ninan Ravikant shukla Ranadeb Bose Vikramjeet Malik Taruwar Kohli Amanpreet Sing Brett Lee James Hopes Shaun Marsh Luke Pomersbach Simon Katich Kumar Sangakkara Mahela Jayawardene Burt Cockley Ravi Bopara Yusuf Abdulla
- Nuwan Kulasekara
Coach ? Tom Moody
3) Chennai Super Kings: The Chennai team was bought by India Cements for $91 million to own the team for 10 years. Team India ODI and T20 skipper Mahendra Singh Dhoni is the captain of Chennai Super Kings. Former South Africa cricket team captain Kepler Wessels is the coach of the team.
4) Kolkata Knight Riders: The Kolkata team is owned by Bollywood actor Shah Rukh Khan, actress Juhi Chawla and her husband Jay Mehta for $75.09 million for a 10-year period. 'Icon player' Sourav Ganguly is the captain of Kolkata Knight Riders.
KKR Team
- Saurav Ganguly Aakash Chopra Ajantha Mendis Ajit Agarkar Angelo Mathews Ashok Dinda Brad Hodge Brenden MCcullum Cheteshwar Pujara Chris Gayle David Hussey Debabrata Das Iqbal Abdullah Ishant Sharma Laxmi Ratan Shukla Mark Cameron Mashrafa Mortaza Moises Henriques Morne Van Wyk Murli Karthik Ricky Pointing Wriddhaman Saha
- Yashpal Singh
5) Deccan Chargers: The Hyderabad team was bought by Deccan Chronicle, a media house, for $107 million for a 10-year period. Team Australia's Icon player Adam Gilcrist is the captain of Deccan Chargers. India's fielding coach, Robin Singh is the coach of the team.
Deccan Charges Team
- Adam Gilcrist Abhinav Kumar Andrew Symonds Arjun Yadav Azhar Anjum Bilakhia Chamara Silva Chaminda Vaas D Kalyan Krishna Dwaraka Ravi Teja Dwayne Smith Fidel Edwards Halhadar Das Harmeet Singh Herschelle Gibbs Jaskaran Deep Singh VVS Laxman Manvinder Bisla Nuwan Zoysa P Vijay kumar PM Sarvesh Kumar Pragyan Ojha Rohit Sharma Rudra Pratap Singh Rayan Harris Scott Styris Syed Mohammed Shoaib Muqsusi Tirumalasetti Suman
- Venugopal Rao
Coach ? Darren Scott Lehmann
6) Mumbai Indians: The Mumbai team is owned by Mukesh Ambani's Reliance Industries Limited for $111.9 million for a period of 10 years. 'Icon player' Sachin Tendulkar is the captain of Mumbai Indians. Former Team India manager, Lalchand Rajput is the coach of the team.
Mumbai Indians
- Sachin Tendulkar Harbhajan Singh Zaheer Khan Sanath Jayasuriya Dilhara Fernando Dwayne Bravo Luke Ronchi Saurabh Tiwary Rohan Raje Ajinkya Rahane Pinal Shah Abhishek Nayar Dhawal Kulkarni Yogesh Takawale Lasith Malinga Jean-Paul Duminy Kyle Mills Mohammad Ashraful Graham Napier Jaydev Shah Ryan Mc Laren Shikar Dhawan Chetnya Nanda Raheel Shaikh
- Jude Singh
Coach ? Shaun Pollock
7) Delhi Daredevils: The Delhi team is owned by GMR Holdings for $84 million for a period of 10 years. 'Icon player' Gautam Gambhir is the captain of Delhi Daredevils. Australia's Greg Shipperd is the coach of the team.
Delhi Daredevils
- Gautam Gambhir Virender Sehwag Dinesh Karthik Amit Mishra Ashish Nehra Aavishkar Madhav Salvi Manoj Tiwary Mithun Manhas Pradeep Sangwan Rajat Bhatia Tesashwi Yadav Umesh Yadav Vijaykumar Yo Mahesh Yogesh Nagar Paul Collingwood Farveez Mahroof Andrew McDonald Glenn McGrath Dirk Nannes Tillakaratna Dilshan Owais Shah Daniel Vettori Abraham de Villiers
- David Warner
Coach ? Greg Shipperd
8) Rajasthan Royals: The Jaipur team was bought by UK-based company Emerging Media for $67 million to own the team for a period of 10 years. Former Australian spin bowler Shane Warne is both the captain and coach of Rajasthan Royals.
Rajasthan Royals
- Shane Warne Graeme Smith Shane Watson Tyron Henderson Johan Botha Shaun Tait Sohail Tanvir Mohammad Kaif Yusuf Pathan Munaf Patel Kamran Akmal D.Mascarenhas Morne Morkel Swapnil Ashnodkar Siddharth Trivedi Ravindra Jadeja Mahesh Rawat Niraj Patel Dinesh Salunkhe Anup Revandkar Rob Quiney Shane Harwood Lee Carseldine Naman Ojha Siddharth Chitnis Paras Dogra Paul Val Thaty Raiphi Gomez Ahad Malek Kamran Khan Abhishek Raut Shrideep Mangela Amit Singh
- Ashraf Makda
Coach ? Shane Warne
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