IPL Pune, Rajkot replace suspended CSK, RR for next two years
Today, Pune and Rajkot has become the new permission in the Indian Premium League (IPL), replacing the suspended teams of Chennai Super Kings and Rajasthan Royals for a period of time. Mr. Goenka will pay Rs 10 crores per year to the BCCI, Intex Mobiles will pay Rs 16 crores for the two year deal.
“They won’t take a single penny from the BCCI. In fact they will pay the BCCI,” Board Secretary Anurag Thakur told reporters after a meeting of the IPL Governing Council here.
CSK and RR to allow back in the league
The teams were sold through the reverse order process for which the base price was set at Rs 40 crores and the bidders had to quote an amount less than that. The lowest bidder was given the authorization. This complete process was required by the suspension of CSK and RR for the involvement of officials and the co-owners in the year 2013 for IPL spot fixing scandal, which was checked out by the Supreme Court appointed Justice (Retired) R.M. Lodha committee. However, both the teams CSK and RR will be allowed back in the league after their suspension.
After their suspension coming back into the league
The temporary permission which has been picked will be participated in a draft to first hold on to their share of players. Players from both the teams CSK and RR will be divided into two groups which are capped and uncapped. The most top names will be sold through the draft system. The two new teams will have minimum of Rs 40 crores and a maximum of Rs 66 crores to buy their players. The other three bidders were Harsh Goenka of RPG properties, Chettinad Cement and Axis Clinical all of whom were quoted has higher bids than the New Rising and Intex Mobiles.