IPL new teams: Sanjiv wins Pune; Intex takes Rajkot

The two teams were necessitated following the ban on Chennai Super Kings and Rajasthan Royals for two years.

A fil photo of Sanjiv Goenka.   -  PTI

Pune and Rajkot are the new franchises in the Indian Premier League (IPL), replacing Chennai Super Kings and Rajasthan Royals, the suspended teams, for a period of two years.

The Pune franchise was bought by Kolkata-based Sanjiv Goenka's company New Rising, while the Rajkot bid was won by Intex Mobiles.Goenka will shell out Rs. 10 crore per year to the BCCI, while Intex Mobiles will pay Rs. 16 crore for the two-year deal.

"They won't take a single penny from the BCCI. In fact they will pay the BCCI," Board Secretary Anurag Thakur said after a meeting of the IPL Governing Council in New Delhi.

The teams were sold through the reverse bidding process for which the base price was set at Rs. 40 crore and bidders had to quote an amount less than that. The lowest bidder was given the franchises.

The process was necessitated by the suspension of CSK and RR for the involvement of some of their officials and co-owners in the 2013 IPL spot-fixing scandal, which was probed by the Supreme Court-appointed Justice (retd) R. M. Lodha committee. However, both CSK and RR will be allowed back in the league after serving out their suspension.

The interim franchises, which have been picked today, will participate in a draft to first retain their share of players. Players from CSK and RR will be divided into two groups of capped and uncapped and the top names will be sold through the draft system. The two new teams will have a minimum of Rs. 40 crore and a maximum of Rs. 66 crore to buy their players.

For more updates, follow Sportstar on :