BCCI announced two new teams for the 2016 and 2017 in Delhi, today (Wednesday). Intex group won the bid for Rajkot while Sanjeev Goenka group got Pune. Pune is not new in the IPL. The city was earlier was known as Pune Warriors, owned by Sahara company. But it was now defunct due to some financial irregularities.
Name of the two teams is New Rising Pune and Intex Rajkot.
While New Rising will put an additional Rs.16 crore annually for the Pune franchise, Intex will put an additional Rs.10 crore for the franchise representing Rajkot. Both teams will be valid for two seasions-2016 and 2017-untill Chennai Super Kings and Rajasthan Royals complete their two-year ban.
Rajkot and Pune will forgo the revenues that they get from the IPL’s central revenue pool, according to the BCCI source.
Chennai Super Kings and Rajasthan Royals were banned for two years following the Supreme Court appointed Justice RM Lodha committee pronouncing the quantum of punishment for the two teams in the centre of the controversy, which found Srinivasan’s son in law Gurunath Meiyappan and RR co-owner Raj Kundra guilty of spot-fixing.
The BCCI then invited bids for two new teams.
Earlier it was known that Chettinad, a Chennai-based cement company, bought the tender of Chennai franchise to cash in on the popularity in the IPL, which remains high despite CSK’s suspension.
The BCCI had issued the forms until November 28 and two successful bidders in a reverse bidding process unveiled on Wednesday.
Explaining the reverse bidding, IPL Chairman Rajeev Shukla told PTI: “In a reverse bid, say for instance a company bids asking us for only Rs 20 crore from the broadcast rights while another company asks for only Rs 15 crore. The one that asks for less money from us gets the rights.”
The base price for reverse bid was Rs 40 crore.
The franchisees who were in the fray are Star India and Yes Bank, Cycle Brand Agarbatti and Videocon among a total of around 20 interested bidders.
Meanwhile, all the existing franchises have been informed that the trading window for the ninth season of the IPL will be open between December 15 and 31 and the teams have been given time up to December 31 to inform the IPL which of the players they wish to release for next year’s auction.
News: Sanjeev Goenka’s New Rising wins bid for Pune team. Intex wins bid for Rajkot team for next two seasons of vivo IPL #vivoIPL
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