Mukesh, Mallya, SRK now IPL team owners

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Nothing exemplifies better the appeal of cricket in India than the disparate winning bidders for the Board of Control for Cricket in India’s (BCCI’s) Indian Premiere League (IPL) teams. They range from infrastructure and private equity firms to film stars.

While the organisers raised a whopping Rs 7,000 crore from the auction, franchisees will now market their individual teams and christen them in consultation with IPL. The rights last for ten years, starting from this year.

While GMR Holdings bagged team Delhi for Rs 336 crore, RIL won Mumbai for Rs 447.6 crore. India Cements snagged Chennai for Rs 364 crore, while UB Group picked up Bangalore for Rs 446.4 crore. Preity Zinta-Ness Wadia-Karan Paul-Mohit Burman won the Mohali team for Rs 304 crore, while UK’s Emerging Media won Jaipur for Rs 268 crore. Hyderabad went to Deccan Chronicle Holdings for Rs 428.04 crore, and the Kolkata team to Shah Rukh Khan-Juhi Chawla-Jay Mehta for Rs 300.36 crore. Bids opened at $50 million.

Franchisees will pick up 80% of TV revenues in the first and second years, 70% in the third and the fourth years, and 60% from the fifth to tenth years. They will also get 60% of sponsorship revenues, as well as 100% of gate takings, title sponsorship, shirt sponsorship, local sponsorship, licensing, merchandising, hospitality and premium seating, match-day concessions, match-day promotions, and franchise media platforms.