Pune, Rajkot to be new IPL franchises for 2 years
NEW DELHI (AP) The western cities of Pune and Rajkot will provide the franchises to fill in for the suspended Chennai Super Kings and Rajasthan Royals in the Indian Premier League over the next two years.
The Board of Control for Cricket in India said the new teams will be temporary replacements after the Super Kings and Royals were suspended this year by a Supreme Court-appointed committee over corruption and spot-fixing.
New Rising Consortium-owned Pune and mobile phone manufacturer Intex-owned Rajkot were selected in a reverse-bidding process in which bidders were asked to discount their annual revenue share of $6 million.
New Rising gave up that revenue entirely and also committed to pay $2.4 million per year to the BCCI. Intex will pay $1.5 million per year.