New Delhi: BCCI's Working Committee on Sunday decided against termination of Chennai Super Kings and Rajasthan Royals.
With the suspension of Chennai Super Kings and Rajasthan Royals, the cash-rich tournament was reduced to six franchises.
CSK, RR will be back in the IPL in 2018 after serving a two-year suspension and hence that edition will feature 10 teams.
The Indian board will will float tenders for new teams that will replace CSK and RR for the 2016 and 2017 editions.
Also, the BCCI will hold its all-important AGM on November 9.
Vivo, a Chinese electronics manufacturer, will be the new title sponsor of the Indian Premier League.
Vivo will replace PepsiCo and will be associate with the cash-rich league for the next two years.
The initial contract between BCCI and Vivo will contain the same terms and conditions will remain as the previous one with the beverage giant.
Pepsi will stay as beverage sponsor of individual IPL franchises.