As expected, confusion reined thick before the much anticipated unveiling of the IPL 4’s two new teams ended in postponement.
The IPL and BCCI were forced to backtrack on their date for original announcement after the process was cancelled over stringent financial clauses.
The IPL Chairman and Commissioner, Lalit Modi, had announced that the bidding for the new teams would start at $225 million. However, the clause that the net worth of the bidders should be at the $1 billion mark had companies and personalities stepping back.
The question of paying $100 million dollars within 24-48 hours was also something that did not appeal to the prospective franchisees, which will now be reduced to a $10 million fee to be paid up within 48 hours.
Amongst those in the fray for becoming franchisees ended up being only Venugoapl Dhoot, of Videocon rooting for the Pune region. But he was in competition with Bollywood actors - Saif Ali Khan, Kareena Kapoor and Karishma Kapoor - formed one team while the Panchshl Group rounded up the trio. Amongst other contenders were Ahmedabad venue supporters Adani Group as well as the Jaypee Group, all who were present at the Four Seasons in Mumbai before it was postponed to two weeks later.
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Want an IPL Team in 2011 IPL 4 Season? Cough Up $225 and Then Some!
