Zee Group has announced the launch of the Indian Cricket League waving a prize-money of $1 million (Rs 4.28 crore). Mr Subhash Chandra, Chairman, Zee Group announcing the new league, a joint venture between Essel Group and Infrastructure Leasing & Financial Services Ltd (IL&FS), committed a corpus fund of Rs 100 crore, about a tenth of its failed bid in 2004 for the television rights of the Board of Control for Cricket in India (BCCI). The BCCI has received a letter from Mr Chandra seeking permission to start the Indian Cricket League.
Critics have drawn parallels to the Kerry Packer series launched by Australian TV tycoon Kerry Packer in 1977, soon after he was denied television rights by the Australian Cricket Board. In 2004, Zee Telefilms bid $260 million (about Rs 1,113 crore) for a four-year contract with BCCI.
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