rin ivas an , ▁who ▁is ▁also ▁the ▁owner ▁of ▁Chen na i ▁Super ▁Kings ▁and ▁T N PL ' s ▁initial ▁title ▁spons or , ▁India ▁C ements . ▁ ▁Fran ch ise ▁rights ▁▁ ▁On ▁May ▁ 1 ▁ 2 0 1 6 , ▁T N CA ▁invited ▁b idd ers ▁for ▁the ▁eight ▁franch ise ▁rights . ▁A ▁total ▁of ▁ 1 7 ▁b idd ers ▁participated ▁in ▁the ▁b idd ing ▁process . ▁M embers ▁of ▁T N CA ▁were ▁not ▁allowed ▁to ▁particip ate . ▁The ▁base ▁price ▁set ▁for ▁each ▁franch ise ▁was ▁ ▁for ▁a ▁period ▁of ▁ 1 0 ▁years . ▁After ▁the ▁au ction , ▁the ▁amount ▁T N CA ▁earned ▁from ▁franch ise ▁rights ▁was ▁ ▁which ▁was ▁more ▁than ▁three ▁times ▁the ▁minimum ▁bid ▁amount . ▁Th ooth uk udi ▁Sports ▁was ▁the ▁highest ▁bid der ▁who ▁chose ▁Th ooth uk udi ▁for ▁. ▁The ▁second ▁highest ▁was ▁Met ron ation ▁Chen na i ▁Television ▁P vt . ▁Ltd ▁which ▁bought ▁the ▁Chen na i ▁team ▁. ▁ ▁In aug uration ▁ ▁On ▁August ▁ 1 6 ▁ 2 0 1 6 , ▁the ▁first ▁edition ▁was ▁inaugur ated ▁by ▁MS ▁D h oni ▁in ▁Chen na i . ▁The ▁first ▁edition ▁featured ▁popular ▁players ▁like ▁Rav ich and ran ▁Ash win , ▁Mur ali ▁V ij ay , ▁D ines h ▁Kar th ik ▁and ▁Lak sh m ip ath y ▁Bal aj i . ▁It ▁also ▁featured ▁players ▁registered ▁with