Zee Telefilms (part of the Essel group, which is promoted by Subhash Chandra) bid for the telecast rights to the 2003 Cricket World Cup. Although the highest bid, it was unsuccessful. In 2004, Subhash Chandra again bid for telecast rights and ended up in an inconclusive court battle. He bid again for the 2006-10 rights and once again lost. He responded by creating the ICL. “They denied us the cricket content,” says Himanshu Mody, business head of ICL and Zee’s sports channels, “so, we had to create our own content”.[2] Zee Telefilms announced that it would partner infrastructure major IL&FS to create a new, ambitious cricket organisation, the Indian Cricket League (ICL).[3] This league will have a prize money of $ 1 million for the winner. The ICL was set up with a Rs. 100 crore (Rs. 1 billion) corpus, and would initially comprise six teams, to be expanded to sixteen in three years. This will make ICL the richest professional league in the country, with an annual prize of $1 million (Rs. 4.4 crore).