Though most of the names of the shareholders of the franchisees have been in the public domain, the spat between IPL chairman Lalit Modi and Union Minister of State for External Affairs Shashi Tharoor brought focus back on them.
The spiralling controversy over the shareholders of the Kochi franchisee has led to questions over the ownership of the eight franchisees now playing in the Indian Premier League.
Though most of the names of the shareholders of the franchisees have been in the public domain, the spat between IPL chairman Lalit Modi and Union Minister of State for External Affairs Shashi Tharoor brought focus back on them.
If Modi has questioned the ownership fo the new franchisee Kochi, the Kerala team's shareholders want to know the owners of all the franchisees if there is no confidentiality about them. The other franchise sold last month was bought by Sahara India.
A couple of franchisees sold a small stake here and there, but most of the chief promoters of the eight franchisees remain intact.
The list of the franchisees and their owners:
Rajasthan Royals: The Jaipur team was bought by UK-based company Emerging Media for $67 million to own the team for a period of 10 years. Suresh Chelaram, Lalit Modi's brother-in-law and a Nigeria-based businessman, has 44.1% stake, UK-based businessman Manoj Badale has 32.4% stake while the rest is controlled by two companies promoted by Raj Kundra, actress Shilpa Shetty and media mogul Lachlan Murdoch.
Chennai Super Kings: The Chennai team was bought by India Cements for $91 million to own the team for 10 years. India Cements is headed by Indian cricket board secretary N.Srinivasan.
Bangalore Royal Challengers: The Bangalore team was bought by Vijay Mallya’s UB Group for $111.6 million.
Kings XI Punjab: The Mohali team was bought by Bollywood diva Preity Zinta, her former industrialist beau Ness Wadia, along with renowned industrialists Karan Paul and Mohit Burman for $76 million. Mohit is the brother of Modi's step-son-in-law Gaurav.
Kolkata Knight Riders: The team is owned by Bollywood actor Shah Rukh Khan, actress Juhi Chawla and her husband Jay Mehta, who bought it for $75.09 million.
Deccan Chargers: The Hyderabad team was bought by Deccan Chronicle, a media house, for $107 million.
Mumbai Indians: The Mumbai team is owned by Mukesh Ambani’s Reliance Industries Limited for $111.9 million.
Delhi Daredevils: The Delhi team is owned by GMR Holdings for $84 million.
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