Indian Premier League: Star India, Chettinad Cement Among 21 Entitites to Buy

Star India and Chettinad Cement are the two top companies in the race.

Two new teams of the Indian Premier League (IPL) will be announced after a meeting of the tournament’s governing council (GC) here on Tuesday. This two new teams eill replace Chennai Super Kings and Rajasthan Royals.

“There are 21 corporates and large business houses which have bought bid documents”. People are waiting for the IPL 2016 Bid for their favourite players.

On December 15, top 10 players from the two teams will go on sale at the Player Draft and the CSK and India T20 skipper Dhoni is likely to be first-choice of the franchise. Before that every team purchase their players by taking part in IPL Bid.

The tender also talks about the possibility if the lowest bids are equal. In the earlier regime, CSK owner and BCCI president N Sriniwasan saw to it that a players’ retention clause was inserted in IPL. “As per the tender, the first capped player will be paid Rs 12.5 crore while the remaining four capped players will get Rs 9.5 crore, Rs 7.5 crore, Rs 5.5 crore and Rs 4 crore”, said the report.

Cycle Brand Agarbatti has also been associated with BCCI as sponsors during various worldwide series. The IPL Chairman Rajeev Shukla, BCCI Treasurer Anurag Thakur along with the two owners of the teams would be present. The cities offered to two new IPL teams are Chennai, Cuttack, Dharamsala, Indore, Kanpur, Nagpur, Pune, Rajkot, Ranchi and Vishakapatnam.

CSK and RR were suspended for two seasons following the Supreme Court-appointed Justice RM Lodha committee pronouncing the quantum of punishment for the two teams in the centre of the controversy, which found Srinivasan’s son-in-law Gurunath Meiyappan and RR co-owner Raj Kundra guilty of betting.

Nine cities have been shortlisted for the two new franchises.

Now that the two new owners have chose to pay BCCI Rs. 16 crore and Rs. 10 crore per year, the BCCI doesn’t have to shell anything from the reserve fund. In fact, the Board will be richer by Rs. 52 crore over the next two years.