IPL Bidding Rates

1. Mahendra Dhoni (India) $1.5m to Chennai

2. Andrew Symonds (Australia) $1.35m to Hyderabad

3. Sanath Jayasuriya (Sri Lanka) $975,000 to Mumbai

4. Ishant Sharma (India) $950,000 to Kolkata

5. Irfan Pathan (India) $925,000 to Mohali

6. Brett Lee (Australia) $900,000 to Mohali

6. Jacques Kallis (South Africa) $900,000 to Bangalore

8. RP Singh (India) $875,000 to Hyderabad

9. Harbhajan Singh (India) $850,000 to Mumbai

10. Chris Gayle (West Indies) $800,000 to Kolkata

10. Robin Uthappa (India) $800,000 to Mumbai

12. Rohit Sharma (India) $750,000 to Hyderabad

13. Gautam Gambhir (India) $725,000 to Delhi

14. Brendon McCullum (New Zealand) $700,000 to Kolkata

14. Kumar Sangakkara (Sri Lanka) $700,000 to Mohali

14. Adam Gilchrist (Australia) $700,000 to Hyderabad

17. Shahid Afridi (Pakistan) $675,000 to Hyderabad

17. Jacob Oram (New Zealand) $675,000 to Chennai

17. Albie Morkel (South Africa) $675,000 to Chennai

17. Mohammad Kaif (India) $675,000 to Jaipur

17. Manoj Tiwary (India) $675,000 to Delhi

What is the Indian Premier League?

The Indian Premier League (IPL) is a franchise-based Twenty20 competition organised by the BCCI, and it has official sanction since it has the backing of the ICC. It features the world's best cricketers playing - their affiliation decided by open auction - for eight city-based franchises, owned by a host of businessmen and celebrity consortiums. The inaugural edition of the tournament will run from April 18 to June 1.