Published: Dec 08, 2015, 11:55 AM (IST)
Edited: Dec 08, 2015, 12:00 PM (IST)
Indian Premier League (IPL) will witness the addition of two new teams on Tuesday for its ninth season next year. Two former franchises— Chennai Super Kings (CSK) and Rajasthan Royals (RR) were suspended for two seasons from IPL as per the verdict given by ‘The Honourable Supreme Court of India’ because of their beneficiaries and owners of having been involved in betting. Many teams are in the fray to replace these two former franchises. They are Chettinad Cement (of Chennai), Star India, YES Bank, Cycle Brand Agarbatti and Videocon. In total there are approximately 20 bidders. The results of the reverse bidding process will be declared today. READ: IPL will be eight-team event for next two years, BCCI assures league franchisees
IPL Chairman, Rajeev Shukla was quoted by Cricketnext website saying, “In a reverse bid, say for instance a company bids asking us for only Rs 20 crore from the broadcast rights, while another company asks for only Rs 15 crore. The one that asks for less money from us gets the rights.” The forms for reverse bidding were available till November 28, 2015. The two new teams that shall play in IPL 2016 will be on a contract for a two-year period. There is no requisite that the franchises are from Chennai and Rajasthan only. They can be from any major Indian city. However, they cannot be from the current six franchises. IPL 2016: Fate of Chennai Super Kings, Rajasthan Royals to be sealed during BCCI AGM
BCCI President Shashank Manohar and secretary Anurag Thakur and Rajeev Shukla will attend the bidding process. All the franchises have been intimated that the trading window for IPL 2016 is for 17 days starting from December 15, 2015 till the year end.
