Names of two new IPL teams announced
The BCCI announced on Tuesday the two new teams that will replace suspended Chennai Super Kings and Rajasthan Royals for the next two seasons of the Indian Premier League (IPL) - Pune and Rajkot. The Pune franchise was bought by Sanjiv Goenka of the RP-Sanjiv Goenka Group for Rs. Minus 16 Crore, while the Rajkot franchise went to Delhi-based Intex Technologies for Rs. Minus 10 Crore.
Sanjiv Goenka of the RP-Sanjiv Goenka Group, who is also the co-owner of the Atletico de Kolkata team in the Indian Super League (ISL), won the bid for the Pune franchise for Rs. -16 Crore. Pune was part of IPL from 2011 to 2013 with Sahara Group owned Pune Warriors India representing the city.
The Rajkot franchise was won by Delhi-based Intex Technologies, an Indian smartphone, consumer durables and IT Accessories manufacturer, with a bid of Rs. -10 Crore.
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
— IndianPremierLeague (@IPL) December 8, 2015The Governing Council of the IPL announced the decision on Tuesday after a reverse-bidding process. In the process, bidders will bid for a share from the central revenue pool of the IPL and the two lowest bids would win the teams. While Rs. 40 Crore was set as the base price, both the winners chose to go into the negative territory, meaning they will pay the BCCI rather than get a share of the central pool. "They won't take a single penny from the BCCI. In fact they will pay the BCCI," Board Secretary Anurag Thakur told reporters after a meeting of the IPL Governing Council at New Delhi. Sanjiv Goenka's New Rising group will pay BCCI Rs.16 Crore for two seasons while, Intex Technologies will pay Rs. 10 Crore.IPL Chairman Rajeev Shukla confirmed that five bidders were in the fray for the two new franchises.
The new teams will now have the option to select top five players from Chennai Super Kings and Rajashthan Royals through a draft, while the other players will go into an auction. The draft for the players will take on December 15, with the lowest bidder (in this case Pune) getting the first right to pick among the top players, The Indian Express reported.The 2016 IPL player auction will be held at Bangalore on February 6.
M S Dhoni, R Ashwin, Ravindra Jadeja, Ajinkya Rahane, Brendon McCullum and Shane Watson are the capped players that the new franchises will have a chance to buy. As per the tender, the first capped player will be paid Rs 12.5 crore while the remaining four capped players will get Rs 9.5 crore, Rs 7.5 crore, Rs 5.5 crore and Rs 4 crore,” said The Indian Express report.Â
Both Chennai Super Kings (CSK) and Rajasthan Royals (RR) will be allowed back in the league in 2018, after serving their two year suspension. IPL 2016 will start on April 9, with the final on May 29.Â