| The BCCI had announced the Indian Premier League (IPL), which is modelled on the popular soccer tournament, English Premier League. |
| The IPL will include domestic and foreign teams that will play tournaments, including in the Twenty20 format. Under the Twenty20 format, the company is not a sponsor but the owner of the team. |
| Apart from the ownership amount, a company will have to deal separately with each cricketer it wants in its team. The amount the company will pay for a player depends on the company's bargaining power. |
| Spokespersons of Reliance Communications and Hero Honda declined to comment. The sources said Mallya has initiated talks with the BCCI. |
| The BCCI has asked corporates to pay between $50 million and $60 million (Rs 200 crore to Rs 240 crore) to own an IPL team (for lifetime). In turn, the BCCI will offer companies a revenue share from stadium advertising and gate money. |
| The teams can also be listed on the stock exchanges and buyers have the right to resell the team at a premium. However, the team owner will not have any share in the revenue the BCCI earns through selling television rights. |
| The sources close to the development said these companies have shown interest and negotiations are on with the BCCI. BCCI vice-president Lalit Modi declined to comment. |
| Vijay Mallya had recently bought a 50 per cent stake in the Dutch Formula One team Spyker for $120 million through a consortium, Orange India Holdings, which he formed with Michiel Mol, director of Formula 1 at Spyker. |
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