The Mumbai franchise was sold to the Reliance Industries Ltd, Mukesh Ambani & Nita Ambani for $111.9 million. And making it the most expensive team to be sold in the IPL. The franchise was eventually named “Mumbai Indians”.
Mukesh Ambani is the chairman and managing director of Reliance Industries Limited. Nita Ambani is the chairperson and founder of the Reliance Foundation and a non-executive director of Reliance Industries. Nita Ambani is married to Reliance Industries chairman and managing director, Mukesh Ambani.
The Kolkata franchise was sold to (bollywood actor) Shah Rukh Khan & Juhi Chawla (bollywood actress) for $75.09 million (Rs 520 crore). Shah Rukh Khan’s company ‘Red Chillies Entertainment’ in partnership with actress Juhi Chawla and her husband Jay Mehta (Mehta Group).
Amrit Thomas is the Chief Marketing Officer of United Spirits Limited. United Spirits Limited is an Indian alcoholic beverages company and the world’s second-largest spirits company by volume.
In light of financial scandals involving owner/chairman Vijay Mallya, Amrit Thomas became the chairman of the Royal Challengers.
The Chennai franchise was sold to the India Cements for $91 million. It making it the 4th most expensive team in the IPL behind Mumbai, Bangalore and Hyderabad.
India Cements Limited is a cement manufacturing company in India. It was established in 1946 by S. N. N. Sankaralinga Iyer. It has 7 integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh, Rajasthan and Maharashtra.
The company is headed by former International Cricket Council chairman, N. Srinivasan. He is also the managing director of India Cements Limited. N. Srinivasan is a former Chairman of the International Cricket Council (ICC) and former President of the BCCI.
The Punjab franchise was sold to the KPH Dream Cricket Private Limited, Dabur Group’s Mohit Burman (46%), the Wadia group’s Ness Wadia (23%), Preity Zinta (23%) and Saptarshi Dey of the Dey & Dey Group (8%) for $76 million (Rs 525 crore).
The Delhi franchise was sold to the GMR Group for $84 million (Rs 580 crore). The team changed its from Delhi Daredevils to Delhi Capitals, in December 2018.
In March 2018, GMR Group sold a 50% stake in Delhi Daredevils to JSW Sports for $77 million (Rs 550 crore).
Kiran Kumar Gandhi is the Director and Corporate Chairman of the GMR Group. GMR Group is an infrastructural company. The company was founded in 1978 by Grandhi Mallikarjuna Rao. Its headquartered in Bengaluru.
The Jaipur franchise was sold to the Emerging Media’s Badale for $67 million (Rs 460 crore). Manoj Badale is the owner of Rajasthan Royals Team in IPL. Manoj is the co-founder and managing partner of Blenheim Chalcot and the chairman of the British Asian Trust.