Indian Premier League money

The English Premier League has the most money in club football, in terms of winnings, sponsorships, salaries, and endorsement deals. In the world of cricket, it is the Indian Premier League, which has astronomical amounts of money compared to leagues in other cricket-playing countries.

Surprisingly the Indian Premier League, with Indian city-based teams, began functioning only last year. Created by Lalit Modi, now chairman of the Indian Premier League, it is based on a combination of sports leagues from Europe and America with player auctions, cheerleaders, and cricket in the T20 format (20 overs for each side to beat the other's score). The Indian Premier League has eight team franchises sold all together for £368 million and TV rights packages for £500 million.

In the first season last year, the Rajasthan Royals team, led by Aussie Shane Warne and based in the Rajasthani city of Jaipur, won first prize beating the Chennai Super Kings led by MS Dhoni in the final. Shane Warne retired from international cricket while MS Dhone is currently India's cricket captain.

Engand captain Kevin Pietersen. Photo by Rob Griffith/Associated Press

England's cricketers have been given permission to compete in the Indian Premier League (IPL) after the England and Wales Cricket Board (ECB) agreed to release them for three weeks. "They have been signed by the players and we are waiting on the IPL to come back with confirmation," Paul Collingwood said. "From our point of view, the IPL is exciting."

Kevin Pietersen and Andrew Flintoff are among a number of England players who could command a massive fee, approaching $1 million, in the player auction. And they have match fees, winnings, and endorsements to earn even more money. The initial list of players for the next auction will be published tomorrow with January 27 the closing date for additions.