Dhoni,Symonds Fetch Highest Prices in IPL Bidding

franchise owners spent a huge amount for the players in Indian Premier League auction. India’s Mahendra Singh Dhoni topping the bidding on a day that demonstrated the enormous financial power of the Twenty20 competition.Bidding for the 77 available players reached about $40 million - pending late bids at Wednesday’s auction - and followed on from the $1.026 billion paid for the initial television rights and $723.6 million for franchise ownership.

Chennai trumped Mumbai in the race for India’s limited-overs captain Dhoni, with all team owners cheering the breaking of the $1 million mark as the southern Indian team landed him on a three-year contract worth $1.5 million or €1.02 million per season.

Dhoni, currently leading India in the limited-overs tri-series in Australia, was relaxed about being the most sought player for the league which begins April 18.