Mukesh Ambani's Reliance put in the highest figure of $111.9 million for the Mumbai team in the bidding process for the eight teams on offer for the inaugural Indian Premier League (IPL).
The official announcement was made by Lalit Modi, Vice President of the Board of Control for Cricket in India.
Also putting in winning bids for the Indian board's upcoming IPL were Bollywood actors Shah Rukh Khan and Preity Zinta, business tycoon Vijay Mallya and large construction group GMR.
Preity Zinta put in her bid in association with friend Nes Wadia of the Bombay Dyeing group, while Juhi Chawla and Jay Mehta joined the Shah Rukh-led consortium.
It was also announced that Ogilvy & Mather will be the advertising agency and Mindshare will do the media buying for the League, which will see unprecedented media blitz.
The winners and the winning bids for the eight teams for the Indian premier League were:
1. Mukesh Ambani's Reliance for Mumbai - $111.9 million
2. Deccan Chronicle for Hyderabad - $107.01 million
3. Vijay Mallya's UB Group for Bangalore - $106 million
4. India Cements for Chennai - $91 million
5. GMR Holdings for Delhi - $84 million
6. Consortium led by Preity Zinta for Mohali - $76 million
7. Shah Rukh Khan's Red Chillies (with Juhi Chawla and Jay Mehta) for Kolkata - $75.09 million
8. Emerging Media, a consortium including Manoj Badale of England, Lachlan Murdoch and some other investors for Jaipur - $67 million.