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What is the Indian Premier League (IPL)?
The Indian Premier League, created by the Board of Control for Cricket in India (BCCI) and sanctioned by the International Cricket Council (ICC), is a Twenty20 cricket competition. It is the brainchild of BCCI vice-president Lalit Modi and is modelled along the lines of club football in Europe, which is unlike anything cricket has known in the past. The best players from around the world will not play according to their nationality but as per the market forces.
What makes it so lucrative?
The sheer big money of the IPL is unprecedented at this level of cricket. The BCCI has already made close to US$ 1.75 billion solely from the sale of TV rights ($908 million), promotion ($108 million) and franchises (approximately $700 million). Players are expected to earn close to US$1 million for a three-year contract. It's an entire cricket economy out there.
Who are the cricketers involved?
There are 77 names in the competition. MS Dhoni, Ricky Ponting, Adam Gilchrist, Shoaib Akhtar, Jayawardene, Jayasuriya, Yuvraj and Hayden are some of the big names.
What's the process?
The tournament is scheduled to begin on April 18, 2008 and will last for 44 days, involving 59 matches. The prize money for the league will be around Rs 13 crore (US $3million).
Each team will have a pool of 16 players, of whom eight can be international and four from the Under-22 level or from the catchment area where the team is based.
The governing council consists of Chairman and Commissioner Lalit Modi, Sunil Gavaskar, MAK Pataudi and Ravi Shastri, Rajiv Shukla, Chirayu Amin, Inderjit Singh Bindra and Arun Jaitley.
Although it is going to be a franchise system, some foreign players have already been contracted by the BCCI to play in the IPL.
What are the fixtures?
Each team will play the other 7 teams home and away, the top four teams at the end of the group stages will go through to the semi finals.
What's the format?
Eight teams
16 players in a squad
Who is a icon player?
In the Indian Premier League, an icon player is a player who can only play for his home city in the competition. Unlike all the other players involved, the icon players will not go through bidding. Each of the icon players is guaranteed to get paid at least 15 per cent more than the next top earner in their team, making them the highest paid player.
List of icon players
Sachin Tendulkar for Mumbai Indians
Rahul Dravid for Bangalore Royal Challengers
Sourav Ganguly for Kolkata Knight Riders
Yuvraj Singh for Punjab Kings
Virender Sehwag for Delhi DareDevils
Orange cap
Taking a cue from other famous events like the Tour de France, the DLF Indian Premier League has announced the introduction of the Orange Cap which would be worn by the batsman with the most cumulative runs to his name on each day of the event.
The holder of the Orange Cap at the end of the Twenty20 extravaganza will be honoured with the Winner of Orange Cap 2008 on the day of grand finale in Mumbai on June 1, the IPL said in a release.
The leader of the multi-stage gruelling cycle race Tour de France wears the yellow jacket at the start of each new stage to help identify the overall leader easily.
How's IPL different from ICL?
Unlike the Indian Cricket League (ICL), the IPL is an official sanctioned Twenty20 tournament. Owing to its recognition by the International Cricket Council (ICC), it will enjoy a better status and international reach. Also each team has individual owners.
Who have got the telecast rights?
On January 14, 2008, it was announced that a consortium consisting of India's Sony Television network and Singapore-based World Sports Group secured the rights of the Indian Premier League. The record deal is for ten years at a cost of US$1.026 billion. As part of the deal, the consortium will pay the BCCI US$918 million for the telecast rights and US$108 million for the promotion of the tournament.
The BCCI announced that the bulk of the profit from this deal would initially go to the IPL franchises themselves, gradually reducing this amount over the duration of the contract.
Network Ten has purchased the rights to show every game live in Australia on free-to-air television for the next five years at a cost of AUS$10 - $15 million.
Who have got the title sponsorship rights?
Indian real estate developer DLF Universal secured exclusive rights to the Indian Premier League title sponsorship worth INR 200 crore (over US$50 million) for five years.
What are the franchises?
The magnitude of the Indian Premier League was confirmed when the winning bidders for the eight franchises were announced on January 24, 2008. While the total base price for auction was US$400 million, the auction fetched US$723.59 million. The official list of franchise owners announced and the winning bids were as follows.
Who are the franchise owners and what's the money involved?
Bangalore - Vijay Mallya/UB group - $111.6 million
Chennai - India Cements - $91 million
Delhi - GMR group - $84 million
Hyderabad - Deccan Chronicle - $107 million
Jaipur - Emerging Media (Manoj Badale, Lachlan Murdoch, Suresh Chellaram and investors) - $67 million
Kolkata - Shah Rukh Khan's Red Chillies Entertainment in partnership with Juhi Chawla and Jay Mehta - $75.09 million
Mohali - Preity Zinta, Ness Wadia (Bombay Dyeing), Karan Paul (Apeejay Surendera Group) and Dabur's Mohit Burman - $76 million
Mumbai - Mumbai Mukesh Ambani's Reliance Industries Limited - $111.9 million.
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