Bollywood plays part as franchises sell for £364m

As if to demonstrate the global shift in cricketing power to India, various companies and consortia paid more than $718m (£364m) yesterday to buy the eight franchises of the Indian cricket board's Twenty20 Indian Premier league, which begins in April.

The base price for owning a team for 10 years was set at $50m, but the bidding went beyond that. Mukesh Ambani, the chairman of India's most valuable company, Reliance Industries, successfully bid $111.9m for the Mumbai team while United Breweries, owned by another billionaire, Vijay Mallya – who last year bought into the Formula One team Spyker and renamed it Force India – snapped up Bangalore for $111.6m after losing out on the Mumbai bid.

The Indian cricket board retains the rights to each team, with the winning bidders paying their sums over 10 years – 10 per cent each year. The league, expected to feature many of the game's best players, is an effort to counter an unofficial Indian Twenty20 league which began late last year.

"I'm delighted that UB group has got it," Mallya said. "We will now use this as an active promotional platform for all our brands." Eleven companies and consortia were in the race to own teams from a choice of 12 cities where the franchises would be based. The Bollywood actor Shah Rukh Khan was part of the consortium that secured Kolkata for $75.09m, while the infrastructure company GMR Holdings won the Delhi franchise for $84m.

"I will support cricket and not promote cricket, otherwise people will say I am promoting my films," Shah Rukh said, in a reference to those who criticised his presence at the Twenty20 World Cup in South Africa last year.

Among other bids, Mohali went for $76m to a syndicate including the Bollywood actress Preity Zinta while the media group Deccan Chronicle won Hyderabad for $107.01m. India Cements won the Chennai franchise for $91m while Jaipur was snapped up for $67m by a British company, Emerging Media.

The 44-day IPL starts on 18 April and will feature eight franchises with 16-man squads in its inaugural season. Teams will play home and away games leading up to a grand final. The first year will feature 59 matches played in late afternoon for prime-time TV.

India has the largest global cricket audience. "To date we [the Indian Premier League] have made $1.749 billion," the board vice-president, Lalit Modi, said.

IPL WINNING BIDS: 1. Mumbai Reliance Industries £57.4m; 2. Hyderabad Deccan Chronicle £54.9m; 3. Bangalore Vijay Mallya's UB Group £54.3m; 4. Chennai India Cements $91m; 5. Delhi GMR Holdings $84m; 6. Mohali Preity Zinta consortium $76m; 7. Kolkata Shah Rukh Khan's Red Chillies $75.09m; 8. Jaipur Emerging Media (consortium including Manoj Badale, Lachlan Murdoch and other investors) $67m.

Life and Style
Swimsuit, £245, by Agent Provocateur
fashion

Diving in at the deep end is no excuse for shirking the style stakes

Sport
Mario Balotelli, Divock Origi, Loic Remy, Wilfried Bony and Karim Benzema
transfersBony, Benzema and the other transfer targets
Sport
Yaya Touré has defended his posturing over his future at Manchester City
Voices
Spectators photograph the Tour de France riders as they make their way through the Yorkshire countryside
voicesHoward Jacobson: Line the streets for a cycling race? You might just as well watch a swarm of wasps
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Life and Style
lifeHere's one answer to an inquisitive Reddit user's question
News
peopleDave Legeno, the actor who played werewolf Fenrir Greyback in the Harry Potter films, has died
News
Detail of the dress made entirely of loom bands
news
Life and Style
beauty
Sport
There were mass celebrations across Argentina as the country's national team reached their first World Cup final for 24 years
transfersOne of the men to suffer cardiac arrest was 16 years old
Arts and Entertainment
Armando Iannucci, the creator of 'The Thick of It' says he has
tvArmando Iannucci to concentrate on US show Veep
Sport
German supporters (left) and Argentina fans
world cup 2014Final gives England fans a choice between to old enemies
News
A mugshot of Ian Watkins released by South Wales Police following his guilty pleas
peopleBandmates open up about abuse
Sport
Basketball superstar LeBron James gets into his stride for the Cleveland Cavaliers
sportNBA superstar announces decision to return to Cleveland Cavaliers
Sport
Javier Mascherano of Argentina tackles Arjen Robben of the Netherlands as he attempts a shot
world cup 2014
Sport
Four ski officials in Slovenia have been suspended following allegations of results rigging
sportFour Slovenian officials suspended after allegations they helped violinist get slalom place
News
14 March 2011: George Clooney testifies before the Senate Foreign Relations Committee during a hearing titled 'Sudan and South Sudan: Independence and Insecurity.' Clooney is co-founder of the Satellite Sentinel Project which uses private satellites to collect evidence of crimes against civilian populations in Sudan
people
Caption competition
Caption competition
Have you tried new the Independent Digital Edition apps?
Daily World Cup Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

A History of the First World War in 100 Moments: Peace without magnanimity - the summit in a railway siding that ended the fighting

A History of the First World War in 100 Moments

Peace without magnanimity - the summit in a railway siding that ended the fighting
Scottish independence: How the Commonwealth Games could swing the vote

Scottish independence: How the Commonwealth Games could swing the vote

In the final part of our series, Chris Green arrives in Glasgow - a host city struggling to keep the politics out of its celebration of sport
Out in the cold: A writer spends a night on the streets and hears the stories of the homeless

A writer spends a night on the streets

Rough sleepers - the homeless, the destitute and the drunk - exist in every city. Will Nicoll meets those whose luck has run out
Striking new stations, high-speed links and (whisper it) better services - the UK's railways are entering a new golden age

UK's railways are entering a new golden age

New stations are opening across the country and our railways appear to be entering an era not seen in Britain since the early 1950s
Conchita Wurst becomes a 'bride' on the Paris catwalk - and proves there is life after Eurovision

Conchita becomes a 'bride' on Paris catwalk

Alexander Fury salutes the Eurovision Song Contest winner's latest triumph
Pétanque World Championship in Marseilles hit by

Pétanque 'world cup' hit by death threats

This year's most acrimonious sporting event took place in France, not Brazil. How did pétanque get so passionate?
Whelks are healthy, versatile and sustainable - so why did we stop eating them in the UK?

Why did we stop eating whelks?

Whelks were the Victorian equivalent of the donor kebab and our stocks are abundant. So why do we now export them all to the Far East?
10 best women's sunglasses

In the shade: 10 best women's sunglasses

From luxury bespoke eyewear to fun festival sunnies, we round up the shades to be seen in this summer
Germany vs Argentina World Cup 2014: Lionel Messi? Javier Mascherano is key for Argentina...

World Cup final: Messi? Mascherano is key for Argentina...

No 10 is always centre of attention but Barça team-mate is just as crucial to finalists’ hopes
Siobhan-Marie O’Connor: Swimmer knows she needs Glasgow joy on road to Rio

Siobhan-Marie O’Connor: Swimmer needs Glasgow joy on road to Rio

18-year-old says this month’s Commonwealth Games are a key staging post in her career before time slips away
The true Gaza back-story that the Israelis aren’t telling this week

The true Gaza back-story that the Israelis aren’t telling this week

A future Palestine state will have no borders and be an enclave within Israel, surrounded on all sides by Israeli-held territory, says Robert Fisk
A History of the First World War in 100 Moments: The German people demand an end to the fighting

A History of the First World War in 100 Moments

The German people demand an end to the fighting
New play by Oscar Wilde's grandson reveals what the Irish wit said at his trials

New play reveals what Oscar Wilde said at trials

For a century, what Wilde actually said at his trials was a mystery. But the recent discovery of shorthand notes changed that. Now his grandson Merlin Holland has turned them into a play
Can scientists save the world's sea life from

Can scientists save our sea life?

By the end of the century, the only living things left in our oceans could be plankton and jellyfish. Alex Renton meets the scientists who are trying to turn the tide
Richard III, Trafalgar Studios, review: Martin Freeman gives highly intelligent performance

Richard III review

Martin Freeman’s psychotic monarch is big on mockery but wanting in malice