IPL 2011 - two new teams? Decision on March 21

 Am I excited or what?
Two new franchises for next year's edition of IPL......wow....and the race is on...running hard are  Pune, Ahmedabad, Nagpur, Kanpur, Dharamsala, Vizag, Rajkot, Cuttack, Baroda, Kochi, Indore and Gwalior.....While Ahmedabad and Pune seem to be front runners...with strong backing up.... 
Ahmedabad seems to be a sure winner....since it is being sought after by Adani group and strongly backed by NARENDRA MODI...making it a part of some Golden Gujarat campaign....and besides we did see how much of support an event like ICL got in Ahmedabad two years ago....now this is IPL......am looking forward to see Ahmedabad in action..in the next IPL....
Close behind are Videocon....eying Pune.....along with Abhishek Bachchan...........
I really wished that Priyadarsan and Mohanlal along with the Muthoot group bought the Kochi franchise...but seems like they have deterred themselves from doing so...due to the new clauses set by the IPL governing council...which says :

1. The minimum bidding price is $225 million (Rs 1,042 crore) per franchisee, while it was $50 million (over Rs 230 crore) in 2008.

It must be noticed the costliest one of the previous eight teams is Mumbai Indians, bought by Mukesh Ambani for $111.9 million for 10 years.

2. Within a week after winning the bid, a bank guarantee for the entire amount for the 10-year contract needs to be submitted.

Earlier only 10 % of the entire amount had to be submitted as bank guarantee.

3. Potential bidders can participate from cities that have with stadia or are building them. These cities are Pune, Ahmedabad, Nagpur, Kanpur, Dharamsala, Vizag, Rajkot, Cuttack, Baroda, Kochi, Indore and Gwalior.


As the media continued to shun the proceedings....The latest reports are as follows...according to CRICINFO -

11.10 am: Good morning and welcome to the Four Seasons hotel in Mumbai, where the IPL top brass have gathered to discuss, among other issues, the bids for the two new franchises. There are, as reported, around a dozen contenders for the two teams - which will join the league from 2011 - who are prepared to pay upwards of $225 million (the base price) for the franchise rights.

Videocon Industries' Venugopal Dhoot was among the first to arrive at the venue. Making a surprise presence were Bollywood actors Saif Ali Khan and Kareena Kapoor. The IPL already has strong ties with the film industry with actors Preity Zinta, Shah Rukh Khan, Juhi Chawla and Shilpa Shetty owning stakes in three franchises.

11.20 am: The IPL's governing council meeting began about 50 minutes ago, on the 33rd floor of the Worli hotel (which is also where Modi now lives, after his house was destroyed in a fire). The winning bids, and the cities where the new franchises will be based, are the main points on the agenda. Most of the reports leading up to today linked actor Abhishek Bachchan as the brand ambassador for Videocon Industries, which would bid for Pune. But Saif Ali Khan and Kareena Kapoor are here instead (so is Saif's father, MAK Pataudi, but his cricketing credentials are rather more solid and he's officially associated with the IPL).

11.40 am: There isn't a single television crew from a news channel at the hotel, unusual for a such a high-profile event. But the stand-off between the National Broadcasters Association and the IPL seems to be continuing over the terms and conditions for covering the tournament. So this is probably the only place where you'll be getting this news.

11.50 am: Bollywood actor Saif Ali Khan has reappeared in the hotel lobby. He says the meeting (regarding the bids) hasn't begun yet. "First, they said 11 am, now it is 12pm," he said. His anxiety is only adding to the intrigue.

12.10 pm: The bidders' identities have not been made public but Cricinfo understands there are between eight and 12 investors who have met the various conditions and are prepared to start bidding at $225 million, with the bids expected to touch $300 million. We know which cities are in the fray, though: Pune, Ahmedabad, Nagpur, Kanpur, Dharamsala, Vizag, Rajkot, Cuttack, Baroda, Kochi, Indore and Gwalior. Clickhere for more.

12.15 pm: The meeting is over, and there will be a press conference soon.

12.30 pm: The IPL's governing council has decided that under the terms of the tender under clause 11.4 "cancel the existing tender", the existing tender has been cancelled. A new tender will be put out on March 9. The submission deadline for the tender is 10 am on March 21 and it will be opened on that day in Chennai. All new conditions will be out on March 9 - net worth clause of $1billion removed, advance guarantee of $100 million clause has been removed, all existing tenders were never opened and returned to the bidders, minimum bid amount remains the same at $225 million.

Sources - timesnext, cricinfo, ndtv...