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Indian Premier LeagueIndian Premier League (IPL), a brainchild of BCCI is a Twenty20 league sanctioned by ICC. Eight franchise teams owned by Corporate India, Bollywood stars and media magnets feature in the league.

IPL Teams
Mumbai Indians Bangalore Royal Challengers Deccan Chargers
Chennai Super Kings Delhi DareDevils Punjab Kings
Kolkata Knight Riders Rajasthan Royals  

Each team would have a pool of 16 players, with a max of eight overseas players and a min of four U-22 players besides a min of four players from the catchment area.

Indian Primer League Bids & Winners
Franchise Owner(s) Price (USD)
Mumbai Indians
Mukesh Ambani and Reliance Industries Limited $111.9 million
Bangalore Royal Challengers Dr. Vijay Mallya and UB group $111.6 million
Deccan Chargers
Deccan Chronicle $107 million
Chennai Super Kings India Cements and N Srinivasan $91 million
Delhi DareDevils GMR Holdings $84 million
Punjab Kings
Preity Zinta, Ness Wadia, Karan Paul (Apeejay Surendera Group) and Mohit Burman (Dabur) $76 million
Kolkata Knight Riders
Shah Rukh Khan, Juhi Chawla Mehta and Jai Mehta $75.09 million
Rajasthan Royals Emerging Media: (Manoj Badale, Lachlan Murdoch, Suresh Chellaram) $67 million

Kolkata Night Rider FranchiseIPL franchises bought the best cricketers of the world thro' the players' auction held on Feb 20 in Mumbai. The franchises sans icon players - Chennai and Hyderabad - spent lavishly to net big fishes in the shape of Dhoni ($1.5m) and Symonds ($1.35m) respectively. Franchises bought players -Indian and international - of their liking from a pool of 77 players.

View Match Schedule

Each team will play seven others in the fray on home and away basis. The top four teams at the end of league stages will make it to semis' and bottom four will play classification ties. The inaugural event, involving 59 ties, will kick-off on Apr 18, when Mallaya-owned Bangalore Royal Challengers take on Kolkata owned by SRK at the Chinnaswamy Stadium in Bangalore. The franchise teams will battle it out for 44 days for a US$3m prize money.