The DLF Indian Premier League or IPL is a Twenty20 Cricket competition, formed by the Board of Control for Cricket in India (BCCI) and approved by International Cricket Council (ICC). Headed by Lalit Modi, the IPL would include eight city teams - Mumbai, Delhi, Kolkata, Bangalore, Jaipur, Chennai, Chandigarh and Hyderabad with each team going head on with rest of the seven teams throughout the tournament that would be held during April-May 2008. The first match has been scheduled to be played on 18th April and the final on June 1st.
In the IPL there are five Icon Players namely : Sachin Tendulkar, Sourav Ganguly, Rahul Dravid, Yuvraj Singh and Virendera Sehwag. Under IPL no one can bid for Icon Players and these players would get 15% more amount then the next highest priced player within the franchise.
The bidding of players spread through eight rounds and each franchisee was restricted to spend only Rs. 20 cr. The selling of teams to franchiees made BCCI to bag a whopping amount of Rs. 2,872 cr. With the highest amount of Rs. 6.0 cr. Mahendra Singh Dhoni became the most expensive player in the bidding and went into the franchise of Chennai, sponsored by India Cements. After that Andrew Symonds (Australia) and Sanath Jayasuriya (Sri Lanka) were picked up by Hyderabad and Mumbai with Rs. 5.4 cr & Rs. 3.9 cr. respectively.
| Team | Played | Won | Lost | Points | Net Run Rate |
| Rajasthan Royals | 14 | 11 | 3 | 22 | +0.632 |
| Kings XI Punjab | 14 | 10 | 4 | 20 | +0.509 |
| Chennai Super Kings | 14 | 8 | 6 | 16 | -0.192 |
| Delhi Dare Devils | 14 | 7 | 6 | 15 | +0.342 |
| Mumbai Indians | 14 | 7 | 7 | 14 | +0.570 |
| Kolkata Knight Riders | 14 | 6 | 7 | 13 | -0.147 |
| Bangalore Royal Challengers | 14 | 4 | 10 | 8 | -1.160 |
| Deccan Chargers | 14 | 2 | 12 | 4 | -0.467 |
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