Star India and Chettinad Cement are the two top companies in the race.
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Two spots have been vacated within the eight-group franchise-based mostly T20 league, after the Justice Lodha Committee, constituted by the Honourable Supreme Court of India to probe into the alleged IPL corruption scandal of 2013, suspended the Chennai Super Kings and the Rajasthan Royals franchises for 2 years. This two new teams eill replace Chennai Super Kings and Rajasthan Royals. People are waiting for the IPL 2016 Bid for their favourite players.
What will happen to players from both the franchises?
“There are 21 corporates and large business houses which have bought bid documents”.
The IPL tender, which The Indian Express possess, says: “The Team which submitted the lowest bid in response to the invitation to tender will have the right to choose the first player in the Player Draft”.
The tender also talks about the possibility if the lowest bids are equal. “Now buying bid documents doesn’t necessarily mean participating in the bid”, a top BCCI official said.
In November, IPL chairman Rajeev Shukla had informed that the process to find new teams will begin after November 15 and interested parties can seek clarification till December 4. As per the tender, the first capped player will be paid 12.5 crores while the remaining four capped players will get 9.5 crores.
Cycle Brand Agarbatti had already worked with BCCI as sponsors during various global cricket series. The cities offered to two new IPL teams are Chennai, Cuttack, Dharamsala, Indore, Kanpur, Nagpur, Pune, Rajkot, Ranchi and Vishakapatnam.
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CNN-IBN had learnt that Chettinad bought the tender form with its eyes firmly on the Chennai franchisee to cash in on the city’s popularity in the IPL, which remains high despite CSK’s suspension. The ones in the “Capped” category are those who have been playing global cricket for a senior national team in the last five years. “The base price for reverse bid from central revenue pool is Rs 40 crore and the party which bids for lowest share from central revenue pool will be the victor of new team”.
