Bangalore – The Indian Premier League (IPL) franchise-based 20 overs per side cricket tournament got off to a flying start April 18, 2008, having already won more than US$2billion in TV rights, promotion and franchises revenue, as Bangalore Royal Challengers took on Kolkata Knight Raiders in Bangalore. Sony Entertainment Television India Ltd and Singapore-based World Sport Group forked out US$918million for IPL TV rights over the next 10 years, while Indian developer DLF Ltd is paying US$50million for the title sponsorship for five years. In addition, rights to the IPL website over the next decade were sold to Canadian company Live Current Media for US$50million and have since been developed into a picture and video syndication service at www.IPLT20.com. Created by the Board of Control for Cricket in India (BCCI), the IPL tournament stretches 59 matches over 44 days and features eight privately owned city-based franchises with top players from countries worldwide, in three-hour Twenty20 matches aimed at providing mass entertainment. The IPL teams are owned by billionaires including businessmen Mukesh Ambani and Vijay Mallya, as well as Bollywood stars Shah Rukh Khan and Preity Zinta, who have paid more than US$700million in all for the eight teams. The IPL marks a departure from cricket featuring national teams, playing test matches over five days, or one-day internationals playing 50 overs. US$1.2 million in prize money lies in wait for the winning team at the June 1, 2008 IPL final. Niranjan Shah, secretary of the BCCI said, “The new model is starting and we are crossing our fingers. We are going through a system such as football in Europe and baseball in the US where it is a big sport and huge money is involved.”
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