Pune and Rajkot became the meantime franchises in the Indian Premier League (IPL) till 2017. These teams will take place of the suspended teams of Chennai Super Kings (CSK) and Rajasthan Royals (RR).
Ownership of two new teams
- The Pune franchise was bought by Kolkata-based business tycoon Sanjiv Goenka’s company New Rising.
- Rajkot bid was won by Intex Mobiles through reverse bidding.
About the suspension of CSK and RR
- CSK and RR are facing two-year suspensions which were imposed by the Supreme Court-mandated RM Lodha panel following the 2013 IPL corruption scandal.
- CSK and RR stand suspended till 2017
- Both the CSK and RR will be allowed back in the league after serving out their suspension.
- Now, players from CSK and RR franchises will be divided between two teams of capped and uncapped draft system.
IPL 2016
- The 2016 season of IPL will be held from 9 April to 29 May 2016
- The opening and the final match of the season will be played in Mumbai and the new players’ auctions would be conducted in Bengaluru on 6 February 2016
Reverse bidding process
Both new interim franchises were picked through the reverse bidding process for which the base price was set at 40 crore rupees.
The bidders were to quote an amount less than that and the lowest bidders were given the franchises.
The two new teams will have a minimum of 40 crore rupees and a maximum of 66 crore rupees to buy their players.
