Sahara wins bid for Pune IPL team, Rendezvous Sports World gets Kochi

The Indian Premier League (IPL) on March 21, 2010, unveiled the names of its two new official franchises for IPL 2011. Sahara Adventure Sports has won the Pune franchise for $370 million, while Rendezvous Sports World won the bid for Kochi franchise for $333 million.

e4m by exchange4media Mumbai Bureau
Updated: Mar 23, 2010 9:55 AM
Sahara wins bid for Pune IPL team, Rendezvous Sports World gets Kochi

The Indian Premier League (IPL) on March 21, 2010, unveiled the names of its two new official franchises for IPL 2011. Sahara Adventure Sports, part of the Sahara Group, has won the Pune franchise for $370 million, while Rendezvous Sports World won the bid for Kochi franchise for $333 million.

Sahara had bid similar amounts for three cities – Ahmedabad, Nagpur and Pune – and finally selected Pune as the host city for the new franchise.

Bids for the Kochi franchise were received from prospective bidders post the tender invitation, including the Adani Group and VC Digital Solution (Videocon).

In a prepared statement, Lalit Modi, Chairman and Commissioner, Indian Premier League, said, "We are absolutely delighted by the overwhelming response to our global franchise invitation to the tender process. As you can see, the bidding for the two new official franchises has been fair and transparent and is indicative of the revenue earning potential that the Indian Premier League represents. Given the high quality of franchises that we have selected, we are certain that both the new franchises will do everything in their power to ensure good competitive teams for next year."

Abhijit Sarkar of Sahara Adventure Sports said, "The IPL is undoubtedly the most ground breaking international sports development in living memory. I can promise the people of Pune a team they will be proud of in next year’s IPL 2011. All of us at Sahara Adventure Sports just cannot wait for IPL 2011 to commence."

Shailendra Gaikwad of Rendezvous World Sport added here, “We have closely been following every development within the Indian Premier League right from the inaugural year. Today, I am very happy for our consortium of Rendezvous World Sport and the people Kochi as we finally have a team to call our own in this amazing city-based sports franchise.”

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