NEW FRANCHISES:
The winning bidders for the eight franchises were announced on 24 January 2008. .while the total base price for auction was US $400 million ,the auction fetched US $723.59 million..On 21 March 2010, Pune and Kochi were unveiled as the two new franchises for the fourth edition of the Indian Premier League. The base price was $225 million .while pune was bought by sahara advanture sports group for $370 million, the kochi franchises was bought by rendezvous sports world limited for $333.3 million. The process was to have been completed on March 7 but was postponed by two weeks after many bidders and the BCCI objected to stiff financial clauses. The second franchise auction fetched total $703 million
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