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.
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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
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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
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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
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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
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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
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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
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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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