The Sahara group, the biggest patron of sport in India and sponsors of the Indian cricket team for the last 15 years, bought the Pune team for $370 million, paying 64 per cent higher than the floor price of $225 million.
Rendezvous Sports World won the Kochi franchise with a $333 million consortium bid. The consortium includes partners Pavinee Developers, Anchor Earth, Filmwoves and Anandshah Developers.
“The bidding was extremely competitive with winners selected from a field of five," said IPL chairman and commissioner Lalit Modi. “We are extremely happy that we have got two robust bids, it goes to show that the IPL is on the upward trend.”
The IPL will feature 10 teams from 2011 and a total of 94 games, up from the existing 60 games.
