IPL franchise auction could be held next month
The auction for the two new IPL franchises which will join the league next year could take place as early as next month with over 38 potential buyers already confirmed.
The franchise auction was due to take place later in the year but the IPL are now planning to hold a mega player auction in July for IPL 4.0.
With the player auction planned for July the franchise auction will now be moved forward to possibly February. The base rate for each new franchise is $225 million, double the rate for the first auction which was held in 2008.
Despite the high base rate IPL commissioner Lalit Modi has stated there is over 38 potential buyers already confirmed with the base rate seemingly not putting off groups wanting to become involved in the IPL.
"We haven't put the bids out yet but interest is tremendous, with over 38 potential buyers already confirmed at this price" said Modi.
Although no details have emerged yet possible locations for the franchises include Lucknow, Kanpur, Ahmedabad, Kochi and Dharamsala.