The Board of Control for Cricket in India has announced its much-awaited Indian Premier League (IPL) bid winners for the respective teams. GMR group has won the bid for Delhi team whereas UB group's Vijay Mallya bagged the contract for Bangalore team. Ness Wadia takes control of Chandigarh team and Mukesh Ambani has been declared the bid winner for Mumbai team. Bollywood king, Shah Rukh Khan has been given charge for Kolkata team.
India cements hold the rights for Chennai team and Deccan Chronicle has Hyderabad. `Investors' in cricket have been given rights for Jaipur team.
The following are the bid amounts and winners for various teams in the Indian Premier League:
Vijay Mallya won the bid for the Bangalore team for $111.6 million.
Shah Rukh Khan won the bid for the Kolkata team for $75.09 million.
GMR Holdings won the bid for the Delhi team for $84 million.
Mukesh Ambani won the bid for the Mumbai team for $111.9 million.
India Cements won the bid for the Chennai team for $91 million.
Deccan Chronicle won the bid for the Hyderabad team for $107.01 million.
Emerging Media won the bid for the Jaipur team for $67 million.
Ness Wadia won the bid for the Mohali team for $76 million, reportedly.
The auction includes players' contracts and team franchisee.
According to the IPL tender document, the franchisee revenue is divided into two sections. The first is centralised revenue under which falls the title sponsorship, media right and official umpires' sponsorships.
The second is franchisee revenue which primarily deals with team naming rights, team shirt sponsorship and ticketing revenues. Based on the calculations of the media rights, some of the bidders have reached the conclusion on Wednesday evening that earnings from the sale of different rights are not going to exceed more than $8 million (Rs 320 crore).
"It is natural for any business to break even in a couple of years. IPL is a big venture and it's certainly going to do wonder to the world of cricket," a top IPL official told TOI on Wednesday. If that happens, Indian cricket will surely benefit from the 10-year event on and off the field.
In the inaugural Indian Premier League (IPL) which starts from April 18, BCCI has decided to pay them and some other senior cricketers 10-15% more money than the highest auctioned player of the Twenty20 event.
Sources said BCCI has shortlisted five cricketers - Sachin Tendulkar, Sourav Ganguly, Rahul Dravid, MS Dhoni and Yuvraj Singh - who will be called "icon players" and will be the highest paid players in the league. They will not be auctioned if they have a city team.
IPL chairman Lalit Modi confirmed, "This is one of the BCCI suggestions and it awaits the nod of the IPL board. The player bids will take place next month."
A top BCCI official added that regular members of the Indian team will probably make Rs 1.2 crore to Rs 2 crore from the 44-day event, with the icon players getting the highest amount.
The Future Group too made a late entry. And other bidders included DLF, Private Equity Fund and Videocon.
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