Source - ndtv.com
India's cricket board opened the bids on Thursday for eight city cricket teams for the Indian Premier League tournament.
There were eleven bidders and many had bid for more than one team.
Surprisingly, the bidders included N Sreenivasan of India Cements who is also the Cricket Board treasurer.
Another senior BCCI official is believed to have bid. And many of the losers complained that there's a conflict of interest in a board member bidding for a team.
Each bidder had to pay $50 million that's about Rs 200 crore upfront but the final bids were bigger.
Vijay Mallya got Bangalore for Rs 435 crore, while Mukesh Ambani got Mumbai team for Rs 436 crore
Shahrukh Khan got Kolkata team for Rs 312 crore, while Deccan Chronicle gets Hyderabad team for Rs 419 crore. London-based Banker consortium got Jaipur team for Rs 261 crore an actor Preity Zinta got Chandigarh team for Rs 296 crore.
India Cements got the Chennai team for 354 crore and construction major GMR got Delhi team for 328 crore.
The successful bidders will own city teams and players such as Sachin Tendulkar and Shane Warne for the next 10 years.