A BCCI official said the two new teams were sold for Rs 3,235 crore, while the existing eight teams were sold for a total of Rs 3,330 crore in 2008. In addition, BCCI has worked out a three-year deal with the Times-Nimbus consortium worth at least Rs 260 crore for media rights, according to sources in the media and entertainment industry.
German carmaker Volkswagen has also joined the IPL brandwagon for two years. This deal is expected to be worth at least Rs 35 crore a year.
With more matches, existing sponsors such as Vodafone, Citibank and Kingfisher are believed to have increased their spending by 20-25 per cent. Vodafone, which paid around Rs 35 crore last year, was spending nearly Rs 40 crore this time, said people from the media buying segment.
The broadcasting rights and central sponsorship earnings will be shared with the 10 teams, with BCCI keeping 20 per cent of the broadcasting money and 40 per cent of the central sponsorship pool. BCCI will also earn an extra Rs 425 crore from Multi Screen Media, the owner of the SET Max television channel, following an amended media rights agreement last June.
The tournament takes off in Chennai today with a visual extravaganza that includes live performances by Shah Rukh Khan, Kunal Ganjawala and Sunidhi Chauhan.