© ISLIMG Reliance, the joint venture between IMG Worldwide and Reliance Industries Ltd, Star India and the All India Football Federation today announced the awarding of the eight new franchises that will make up the high-profile Indian Super League (ISL) to be held later this year. The winning bidders represent a strong mix of corporate entities and Bollywood and sports celebrities:Delhi: Sameer Manchanda, chairman of cable provider Den Networks. Goa: Venugopal Dhoot of Videocon, Dattaraj Salgaocar and Shrinivas V Dempo.Guwahati: Bollywood superstar John Abraham and I-League team Shillong Lajong FC.Kochi: Cricket legend Sachin Tendulkar and media & entertainment investment firm PVP Ventures. Kolkata: Former India cricket captain Sourav Ganguly, Harshavardhan Neotia, Sanjeev Goenka, Utsav Parekh and Spanish football club Atletico de Madrid.Mumbai: Bollywood heartthrob Ranbir Kapoor. Pune: Bollywood star Salman Khan with Kapil Wadhawan & Dheeraj Wadhawan of Wadhawan Group.Bengaluru: Sun Group. Ernst & Young, the designated international advisory firm, had the mandate of drawing up and validating the bid process. Each bidder was subject to strict eligibility terms and was required to submit the bids, as prescribed under the 'Invitation to Bid' document. Bids were evaluated by the jury panel in the presence of Ernst & Young representatives.Each of the winning bidders paid approximately $25 million for a 10-year franchise, valuing the original eight franchises at about $200 million. With the plan to add additional franchises over the next few years, that would suggest a future value for football in India around $1 billion.The 'League Partners' have been asked to give a commitment towards grassroots development and, in the first year, the ISL and its eight partners aim to reach one million kids through an in-school programme and community development. Each of the franchises will be required to have a full-time academy in five years.“It is with great pride that I welcome the eight league partners to the ISL. We want to unlock the unbound aspirational energy of our youth through grassroots and community development programmes,” said Nita M Ambani, chairperson of IMG-Reliance. “Together, we will strive to build a vibrant ecosystem that will provide impetus to football in India. As mentor of the League, I commit myself to development of football as a major sport for the youth of India.”“Today's announcement is the culmination of several years of hard work and strategic planning," said Michael Dolan, chairman and chief executive of IMG. “We are enormously pleased at the level of interest the creation of the ISL has generated. We believe the league signals the beginning of a new era in the development of football in India and, in the future, will be the source of great pride for the people of India.”“The nation has been awaiting its second sport for far too long. And we're delighted to collaborate with esteemed partners in the business and sports world to make that happen!”Uday Shankar, CEO - Star India“Inspiring our nation to excel is a priority and comes naturally to us at Star India. With our expertise in marketing and production of sports content, our task is cut out to etch football in the sports culture of India,” said Uday Shankar, CEO of Star India. “The nation has been awaiting its second sport for far too long. And we're delighted to collaborate with esteemed partners in the business and sports world to make that happen!”Praful Patel, president, AIFF, said, “No period in India's long and proud history in football is more exciting than today. This day will go down in memory as a special day for Indian football as eight high profile celebrities and corporates are being introduced into the sport through ISL. With IMG Reliance and Star providing the perfect foundation, the league has become an unstoppable force which will change Indian football.“I hope the grassroots obligations of the franchises give a huge push to the development of the game. Along with the world class infrastructure that is being created for the under-17 FIFA World Cup, and AIFF's expression of interest to host 2015 and 2016 FIFA Club World Cup, Indian football is definitely turning a new leaf in its history.”