Bids for new IPL franchise to be opened today

Last Updated: Oct 25, 2012, 09:14 AM IST

Zeenews Sports Bureau

Mumbai: The Indian Premier League (IPL) governing council will meet today to open the bids for the ninth franchise that is up for grabs following Deccan Chargers termination from the cash rich cricket league.

Board of Control for Cricket in India (BCCI) had issued tenders inviting bids for 12 Indian cities that include Ahmedabad, Cuttack, Dharamsala, Hyderabad, Indore, Kanpur, Kochi, Nagpur, Noida, Rajkot, Ranchi and Vizag.

PVP Ventures, Noida-based Jaypee group and Ahmedabad-based Adani group are likely to be among the companies submitting their bid.

Last month, PVP Ventures earlier attempt to buy the now defunct Deccan Chargers were thwarted by the then owners Deccan Chronicle Holdings Ltd for unknown reasons.

The Board has made certain changes in its IPL rule concerning the teams that include complete right to terminate the contract if the franchise owner fails to pay the players. Also, whenever there is a change in their ownership structure, it has to be brought to the notice of the board.