The Board of Control for Cricket in India(BCCI) announced in New Delhi on Tuesday Dec 08,2015 that New Rising (Pune) and Intex (Rajkot) will be the new franchises that will feature in the Indian Premier League 2016 and 2017
On Tuesday Dec 08,2015, 5 bids were finally submitted after more than 20 companies had showed initial interest by picking up application papers.
New Rising were the best bidder, offering to pay the BCCI Rs 16 crore. Intex were second best by agreeing to pay the Board Rs 10 crore
The Pune franchise was bought by Kolkata-based business tycoon Sanjiv Goenka’s company New Rising, while the Rajkot bid was won by Intex Mobiles
New Rising Pune and Intex Mobiles Rajkot replace Chennai Super Kings and the Jaipur-based Rajasthan Royals
Both teams, former IPL champions, were suspended by the Supreme Court of India Appointed Panel because their team owners - Gurunath Meiyappan (Chennai) and Raj Kundra (Rajasthan) -- were charged with betting and sharing team information with bookies during the 2013 edition of the tournament.
The new cities were chosen after a reverse bidding process in which a franchise that claims the least from the BCCI's coffers (mainly earned from broadcast and sponsorship fees), wins. However, Sanjeev Goenka's New Rising and Intex (a mobile manufacturing company) did not ask for any BCCI assistance.
"They won't be taking even a single penny from the BCCI but they will be contributing... from their side to the BCCI," BCCI secretary Anurag Thakur told
The new teams will now have the option to choose from the top five players each from Chennai Super Kings and Rajasthan Royals. This will be decided during a players' draft on December 15. The trading window for the other six teams also starts on the same day.
Both Pune and Rajkot will have a purse of Rs. 66 crore each to pick their players. The same price band will be applicable for the five capped players, with the first player getting Rs. 12.5 crore and the fifth pocketing Rs. 4 crore.
On Tuesday Dec 08,2015, 5 bids were finally submitted after more than 20 companies had showed initial interest by picking up application papers.
New Rising were the best bidder, offering to pay the BCCI Rs 16 crore. Intex were second best by agreeing to pay the Board Rs 10 crore
The Pune franchise was bought by Kolkata-based business tycoon Sanjiv Goenka’s company New Rising, while the Rajkot bid was won by Intex Mobiles
New Rising Pune and Intex Mobiles Rajkot replace Chennai Super Kings and the Jaipur-based Rajasthan Royals
Both teams, former IPL champions, were suspended by the Supreme Court of India Appointed Panel because their team owners - Gurunath Meiyappan (Chennai) and Raj Kundra (Rajasthan) -- were charged with betting and sharing team information with bookies during the 2013 edition of the tournament.
The new cities were chosen after a reverse bidding process in which a franchise that claims the least from the BCCI's coffers (mainly earned from broadcast and sponsorship fees), wins. However, Sanjeev Goenka's New Rising and Intex (a mobile manufacturing company) did not ask for any BCCI assistance.
"They won't be taking even a single penny from the BCCI but they will be contributing... from their side to the BCCI," BCCI secretary Anurag Thakur told
The new teams will now have the option to choose from the top five players each from Chennai Super Kings and Rajasthan Royals. This will be decided during a players' draft on December 15. The trading window for the other six teams also starts on the same day.
Both Pune and Rajkot will have a purse of Rs. 66 crore each to pick their players. The same price band will be applicable for the five capped players, with the first player getting Rs. 12.5 crore and the fifth pocketing Rs. 4 crore.
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