Existing Original Eight
The winning bidders for the eight franchises were announced on 24 January 2008.[12] While the total base price for auction was US $400 million, the auction fetched US $723.59 million.[13] The official list of franchise owners announced and the winning bids were as follows.
Franchise Owner(s) Price (USD) Price (Rupees)
Mumbai Indians
Mukesh Ambani(Reliance Industries) $ 111.9 m Rs. 503.55 Cr
Royal Challengers Bangalore Vijay Mallya (UB Group) $ 111.6 m Rs. 502.20 Cr
Deccan Chargers
Deccan Chronicle(Venkat Ram Reddy) $ 107.0 m Rs. 481.50 Cr
Chennai Super Kings India Cements (N.Srinivasan) $ 91.90 m Rs. 413.55 Cr
Delhi Daredevils GMR Holdings (Grandhi Mallikarjuna Rao) $ 84.0 m Rs. 378.00 Cr
Kings XI Punjab
Ness Wadia (Bombay Dyeing), Priety Zinta, Mohit Burman (Dabur) and Karan Paul (Apeejay Surendera Group) $ 76.0 m Rs. 342.00 Cr
Kolkata Knight Riders
Red Chillies Entertainment (Shahrukh Khan, Gauri Khan, Juhi Chawla and J Mehta) $ 75.1 m Rs. 337.95 Cr
Rajasthan Royals Emerging Media (Lachlan Murdoch, A.R Jha and Suresh Chellaram), Ultra tech cements,Shilpa Shetty, Raj Kundra $ 67.0 m Rs. 301.50 Cr
In March 2010, the IPL invited bids for 2 more teams,each[14] but the BCCI president and secretary canceled the process, due to a lack of bids.[15]
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Cricket is a bat-and-ball team sport that is first documented as being played in southern England in the 16th century. By the end of the 18th century, cricket had developed to the point where it had become the national sport of England. The expansion of the British Empire led to cricket being played overseas and by the mid-19th century the first international matches were being held.
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