Pune, Rajkot get new IPL franchises for next 2 years
Print Edition
WESTERN Indian cities of Pune and Rajkot will be home to two new franchises in the Indian Premier League for the next two years, the country’s cricket board, BCCI, announced yesterday.
The new teams, for which there were a total of five bidders, fill the void left by the two-year suspensions on the Chennai and Rajasthan franchises following an illegal betting scandal that broke out in 2013. New Rising, a consortium led by Sanjiv Goenka, chairman of the RP-Sanjiv Goenka Group, bagged the Pune team while mobile manufacturer Intex made a successful bid for Rajkot in a reverse bidding process. Under reverse bidding, investors were asked to bid lower than the base price of 400 million rupees (US$6 million), the maximum amount the BCCI offered to pay from the IPL central revenue pool to the new owner.
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