Auctioning of 2 new IPL Franchises was conducted on March 21st 2010 at Chennai where history was created when Sahara Adventure Sports which is part of Sahara Group bought Pune team for a whopping US $ 370 million. This is highest bid in the IPL history. The second highest bidder was the little unknown Rendezvous Sports which bought Kochi team for US$ 333.33 million. The exchange rate was Rs 46 for a dollar and the contract is valid for 10 year period.
These 2 teams together work out to US $ 703.33 million or Rs.3235.53 crores, which is much higher than the auctioning of all the 8 teams in IPL1 in 2008 which was only Rs.2840 crores.The highest bid price for the IPL 1 season team was only US $112 million which is less than 3 times the bid for Pune team ($370 million).This the brand image that IPL has created in just 3 years. The brand value of IPL today is estimated to be around $ 4.13 billion. This year for IPL season 3, live online streaming and theatre screenings of IPL matches was introduced for the first time.
For IPL 4, 500 players will take part in the auctioning. Number of matches will be increased from 60 to 94 matches. Star players like Sachin Tendulkar, Rahul Dravid, Yuvraj Singh etc will be deprived of their icon status and will appear on the auction list if their respective franchise wants.
Hoping to see S.Shreesanth in the Kochi team next IPL season.
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