Sahara Adventure Sports Group and Rendezvous Sports World Limited successfully bid for Pune and Kochi franchise teams in the Indian Premier League (IPL) here on Sunday.
The Sahara ASG, which had also bid for Ahmedabad and Nagpur, purchased Pune for $370 million while Rendezvous SWL forked out $333.3 million as against the minimum bid amount of $225 million.
The two new teams will join the existing eight in the 2011 IPL tournament. Under the present format (home and away, all-play-all), the number of matches from the next season will swell to 94 from the current 60.
IPL commissioner Lalit Modi said on unveiling the bids: “Sahara’s bid of $370 million is the highest amongst the five bidders and Rendezvous was the second highest having quoted $333.33 million. These two companies have bid for a period of 10 years.”
The Sahara ASG, which had also bid for Ahmedabad and Nagpur, purchased Pune for $370 million while Rendezvous SWL forked out $333.3 million as against the minimum bid amount of $225 million.
The two new teams will join the existing eight in the 2011 IPL tournament. Under the present format (home and away, all-play-all), the number of matches from the next season will swell to 94 from the current 60.
IPL commissioner Lalit Modi said on unveiling the bids: “Sahara’s bid of $370 million is the highest amongst the five bidders and Rendezvous was the second highest having quoted $333.33 million. These two companies have bid for a period of 10 years.”
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