Conversation so far:
What is the Indian Premier League?
The Indian Premier League is a professional Twenty20 cricket league.
How did the Indian premier league of cricket league form?
The Indian Cricket League was founded with funding provided by Zee Entertainment Enterprises.
What are some important things to know about the indian premier league of cricket?
The BCCI announced the launch of a franchise-based Twenty20 cricket competition called Indian Premier League whose first season was slated to start in April 2008.
Can you tell me what happened after the BCCI announced the launch of a franchise-based Twenty20 cricket competition called Indian Premier League whose first season was slated to start in April 2008?
In order to decide the owners for the new league, an auction was held on 24 January 2008 with the total base prices of the franchises costing around $400 million.
Are there any other interesting aspects about this Indian premier league article?
The winning bidders were announced, as well as the cities the teams would be based in: Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Mohali, and Mumbai.
Anything of importance went on after the winning bidders of the auction  were announced, as well as the cities the teams would be based in: Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Mohali, and Mumbai?
In the end, the franchises were all sold for a total of 723.59 million. The Indian Cricket League soon folded in 2008.

Question: Was there any controversy regarding this?
Self-contained rewrite: Was there any controversy regarding the franchises being all sold for a total of $723.59 million and  The Indian Cricket League soon folding in 2008?