New Delhi, Dec 8: Pune and Rajkot were today announced as the 2 new franchises in the Indian Premier League (IPL). They will replace the suspended Chennai Super Kings (CSK) and Rajasthan Royals (RR).
After the IPL's Governing Council (GC) meeting here, the 2 new teams were revealed. They will be part of the league for the years 2016 and 2017. Sanjiv Goenka's company New Rising is the owner of Pune team while mobile phone company Intex own Rajkot side.
Both CSK and RR were suspended for a period of 2 years due to betting by their official/co-owner. They will return to the league in 2018.
In the reverse bidding held to replace CSK and RR, New Rising quoted Rs minus 16 crore while Intex had bid Rs minus 10 crore. The base price was set at Rs 40 crore by the Board of Control for Cricket in India (BCCI).
"They won't take a single penny from the BCCI. In fact they will pay the BCCI," BCCI secretary Anurag Thakur said after the IPL GC meeting.
Both Pune and Rajkot teams will participate in next year's players auction and will have a purse of minimum Rs 40 crore and a maximum of Rs 66 crore. CSK and RR players will be sold at the auction.