In fresh bidding for the Indian Premier League (IPL) held in New Delhi on Tuesday, two new franchises from Pune and Rajkot will feature in 2016 and 2017.
New Rising from Pune and Intex from Rajkot are the two new franchises that will participate in the 2016 and 2017 editions of the IPL. They will replace Chennai Super Kings and Rajasthan Royals respectively.
A Supreme Court appointed panel suspended both Chennai Super Kings and Rajasthan Royals because of impropriety. Their team owners, Gurunath Meiyappan and Raj Kundra were charged with betting and colluding with bookmakers during the tournamentâ€™s 2013 edition.
A reverse bidding process was employed to choose the new cities, wherein a franchise that takes the minimum amount of money from the BCCI, earns the right to play.
More than 20 companies had shown interest initially, out of which, five bids were accepted finally.
The top five players each, from Chennai Super Kings and Rajasthan Royals are up for grabs, to be picked up by the new teams.