In 2007, the Indian Cricket League was founded and Zee Entertainment Enterprises was funding the Tournament. The Indian Cricket League was not acknowledged by BCCI or ICC. BCCI was not happy with its committee members of joining the ICL executive board. The BCCI increased the prize money of their domestic tournaments just because to prevent the Cricket players from joining the Indian Cricket League. BCCI imposed permanent ban on players who were joining the Indian Cricket League.
Tye beginning of the Indian Premier League was a big deal. BCCI anounced the frenchise based twenty20 Compitition called Indian Premier League on 13 september 2007. The first season of Indian Premier League was played from April 2008. DLF took the right of title sponsor for 4 edition of Indian Premier League (2008 to 2012) for the amount of ₹40 crore (5.6 million US$). The franchises were anounced based on 8 different cities of India which was Banglore, Chennai, Delhi, Hyderabad, Jaipur, Mohali, Mumbai, Kolkata. The all Franchises were sold for total of 723.59 million dollars.
• The Auction Of All IPL Franchises
BANGLORE (ROYAL CHALLENGERS BANGALORE)
On 20 February 2008, Banglore were put up in auction in mumbai. The Banglore franchise was bought by Vijay Mallya for the bidding price of US$111.6 million. It was the second highest bid for a team after Mumbai. The team was named as Royal Challengers Bangalore.
MUMBAI (MUMBAI INDIANS)
Mumbai franchise was sold to Mukesh Ambani for US$111.9 making them them the most expensive team among all the teams in Indian Premier League. The team was named as Mumbai Indians. Mukesh Ambani obtained the rights to the franchise for the period of 10 years.
CHENNAI (CHENNAI SUPER KINGS)
Chennai franchise were sold to Indian Cements for US$91 million. This team became the third most expensive team in the tournament after Mumbai and Banglore. The ex-chairman of ICC N. Srinivasan was illegally the owner of Chennai Super Kings as he was the vice chairman and managing director of Indian Cements. After this controversial act the team was transferred to a completely separate body named Chennai Super Kings Cricket Ltd.
HYDERABAD (DECCAN CHARGERS)
The team was bought by Deccan Chronicle Holdings Ltd. They acquired the Hyderabad based franchise for the bid price of $107 million. Later due to some financial problems the team pulled themselves out of the franchise contract and later a new Huderabad based team was indroduced named Sunrisers Hyderabad in 2012.
HYDERABAD (SUNRISERS HYDERABAD)
Hyderabad came in 2012 and replaced Deccan chargers and the franchise played their first season in 6th edition of Indian Premier League in 2013. The franchisee sold to Sun TV network for a bid of ₹85.05 crore (US$ 19 million). The team was named as Sunrisers Hyderabad.
DELHI (DELHI CAPITALS)
The Indian Premier League teams were representing 8 different cities of india and delhi was one of them. Delhi sold to GMR for US$84 million on 20 february 2008. The team was named as Delhi Daredevils. GMR group sold the 50% stake in the delhi daredevils to ₹550 crore (US$77 million) on march 2018. Later the team name was changed from Delhi Daredevils to Delhi Capitals.
KOLKATA (KOLKATA KNIGHT RIDERS)
During the auction of the franchise the Kolkata franchise was sold to The bollywood Star Shahrukh Khan partnership with bollywood actress juhi chawla and her husband jay mehta. The team was bought for US$75.09 million. The team was named as Kolkata Knight Riders reference to the 1980s popular American TV series Knight Riders.
PUNJAB (KINGS XI PUNJAB)
The franchise was bought by Dabur groups Mohit Burman partnership with the bollywood actress preity zinta and group's of ness wadia for $76 million. On 10 october 2010 Indian Premier League anounced that they terminated Kings XI PUNJAB and RAJASTHAN ROYALS. After some legal actions were taken and both the teams were acquired their franchise contract again.
RAJASTHAN (RAJASTHAN ROYALS)
On 20 february 2008 the Rajasthan franchise was put on auction and sold to Emerging Media for $67 million. It was the least expensive team among all the franchise in the Indian Premier League. The team went through controveries over the years. Rajasthan Royals were suspended along with Chennai Super Kings for 2 years from IPL. They could not play 2016 and 2017 IPL season due to the 2013 slot fixing and betting case.
PUNE (PUNE WARRIERS INDIA)
This pune based franchise was came in 2011. It one of the two new teams which was intruduced alongside Kochi Tuskers Kerela. The pune franchise was bought by Sahara Group Sports Limited for $3.7 million.
After these teams Rising Pune Supergiants and Gujarat Lions were introduced in 2015 for two years as Rjasthan Royals and Chennai Super Kings were suspended. RPS and GL were replacing RR and CSK for 2 seasons of Indian Premier League (2016 and 2017). In 2018 Rajasthan Royals and Chennai Super Kings returned to IPL.