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IPL Auction Results: Pune, Kochi In

The IPL auction of 2 new teams on March 21 is won by Sahara and Rendezvous for Pune and Kochi respectively.
Hyderabad | 21st March 2010
The IPL showcased its financial might once again today when the 2 new franchises that were bought netted a mind-boggling total amount of $703m.

The Sahara group, one of the most visible names for cricket fans thanks to its perennial sponsorship of Team India, won the Pune francise for $370m, and Rendezvous Sports, a consortium of 5 companies, won the Kochi franchise for $333m.

Like cricinfo put things in persective, the amount that the Sahara group bid for Pune is more than the entire amount netted by the BCCI in the auction of 8 teams before IPL1. This means that the returns for the existing IPL team owners, assuming each of the teams is worth at least $300m now, are in excess of at least 200% (Reliance bought Mumbai Indians for $100m).

The Sahara group bid for Ahmedabad and Nagpur, too, (and were highest there, too) but chose Pune finally. The Adani and Videocon groups, which were the only ones to bid at the cancelled earlier scheduled auction on March 7, 2010, for the 2 new teams, failed to win this time.

The 2 new teams will make their debut in IPL 2011.
filed in:  IPL, IPL Auction, Pune, Kochi, Sahara, Rendezvous
2power10 on 21st Mar 2010, 5:48pm | Permalink
imho, obscene luxuries like this ipl tamasha and tragedies like water/power shortage and children not being able to go to school and families going without food - our country's contrasts are getting more and more tragic.
Vimal Vijay on 21st Mar 2010, 10:48pm | Permalink
i am a cricket fan from kerala. I am very much thrilled to hear our COCHIN has bagged an IPL team which is the latest trend of commercial cricket. I appreciate our external affairs minister Sasi Tarur and RENDEZVOUS Sports for takin city to peaks. Ofcorse it is a matter of pride, but got a wide dimension of business too. I request the coordinators to make sure our home city ll host the IPL games. So that our "QUEEN OF ARABIAN SEA" can feel the roar and glamour of new era...
sunitha on 22nd Mar 2010, 12:53pm | Permalink
iplt20 can pool money in billion dollars but also think the tragedgic situations that prevail in madya pradesh ,childrens are dyeing because they are malnourished
cricwaves on 26th Mar 2010, 4:06pm | Permalink
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