Mumbai – Sunday June 1 2008 saw the Rajasthan Royals defeat the Chennai Super Kings by 3 wickets to win the inaugural Indian Premier League (IPL) Twenty20 tournament and the US$2.8 million prize money. After 59 matches, played over 45 days, the Board of Control for Cricket in India (BCCI) is set to reap profits of Rs 350 crore (US$82 million). Analysts say over 250 million people, in India, the UK, US and Australia, tuned into the event, which featured many of the world’s top cricketing stars. Australian legend Shane Warne was lured out of retirement to be player-coach of the triumphant Rajasthan Royals who, at only US$67 million, were the IPL’s cheapest franchise – owned by British entrepreneur Manoj Badale. Head of Reliance Industries, Mukesh Amabani reportedly paid US$107 million for the Mumbai Indians; Shah Rukh Khan and two business partners paid US$78 million for the Kolkata Knight Riders which are projected to make an operating profit of US$3.5 million. Clubs’ profits are predicted to quintuple to US$117 million as the IPL grows over the next ten years. The 10-year TV rights to IPL were bagged for US$1 billion back in mid-January 2008 by Sony Entertainment Television and World Sports Group. BCCI were reportedly paid US$908 million for the telecast rights and US$108 million for promotion of the IPL.