New IPL teams 2011, Pune and Cochin are two new Franchisees of IPL season 4, Sahara Adventure Sports Ltd, Rendezvous sports world limited, Kochi IPL team

The two new Franchisees of the IPL were auctioned at the ITC Park Sheraton in Chennai on 21st Mar 2010.

The cities in the fray were Pune, Ahmedabad, Nagpur, Kanpur, Dharamsala, Vizag, Rajkot, Cuttack, Baroda, Kochi, Indore and Gwalior.

Lalit Modi, the IPL commissioner, tweeted that there were 5 bidders and which included Videocon, Adani, the Sahara group the Jaypee group and Pune-based builder Anirudh Deshpande. Bollywood actors Ajay Devgan, Sanjay Dutt and Suniel Shetty are also believed to have bought tenders.

The minimum base price is $225 m and the highest tender wins.

Follow Live Auction

The highest bid was of Sahara Adventure Sports Ltd for Pune was $370 million. READ MORE

The second highest was Rendezvous Sports Ltd..$333.33 million and they bid for Cochin

So the two new cities in the IPL are Pune and Cochin which will be part of the 4th season of the IPL.

They were bid for by Sahara Adventure Sports (Pune) and Rendezvous Sports Ltd (Cochin).

Watch Live TV

IPL season 4 will feature 10 teams and a total of 94 games will be played, from the existing 60.

The prices of the 8 Franchisees which were bought earlier are as below:

• Mumbai Indians – Mukesh Ambani – $111.9 m
• RCB – Vijay Mallya – $111.6 m
• Deccan – T Venkatram Reddy – $107.01 m
• CSK – N Srinivasan – $91 m
• DD – GM Rao – $84 m
• KXIP – Preity Zinta – $76 m
• KKR – SRK – $75.09 m
• RR – Manoj Badale – $67m