By replacing CSK and RR respectively Pune, Rajkot become interim IPL franchises [ Current News (Concise) ]
Through the inverse bidding process Pune and Rajkot have become the new interim franchises in the Indian Premier League (IPL). And with this they have replaced the suspended teams of Chennai Super Kings (CSK) and Rajasthan Royals (RR) for two years.
- Kolkata-based company New Rising has bought the Pune franchise which is owned by business tycoon Sanjiv Goenka.
- And the Rajkot franchise’s bid was won by Intex Mobiles.
- 10 crore rupees per year has been played by Mr. Goenka for the Pune franchise to the Board of Cricket Council of India (BCCI), and in other hand Intex Mobiles will pay 16 crore rupees for the two-year.
Reverse bidding process
- Through the reverse bidding process both new short-term franchises are selected for which the base price was set at 40 crore rupees.
- And the bidders have to put their bid amount less than that, after that the lowest bidders were given the franchises.
- By covered and opened draft system players from both teams CSK and RR franchises will be divided between two teams.
- The two new teams allowed to buy their players at maximum cost of 66 crore and at minimum cost of 40 crore.
- Earlier, Retired Justice R. M. Lodha and committee was appointed by Supreme Court for the scandal of 2013 IPL match fixing and he has suspended CSK and RR after it was found the involvement some of their officials and co-owners.
- In this regard the committee has suspended both teams for time of 2 years and they have been allowed to come back in the league after serving out their suspension term.
- Published on: December 9, 2015