IPL ready for new teams

The blueprint for the sale of two new franchises and 50-plus players -- including those from Chennai Super Kings and Rajasthan Royals -- is ready, pending the BCCI's AGM next month.

The two franchises will be sold for a period of two years, after which they will have to exit, as Rajasthan Royals and Chennai Super Kings return. Every unselected venue across the country will be available for the bidders to pick from.

A 'reverse bidding' system will be adopted in handing out franchises to potential bidders, where the BCCI will set a base price. Interested parties will be allowed to quote a bid lesser than that price, with the franchise being given to the lowest bidder.

The board will pay winning bid amount to the bidder. This amount is expected to cover some portion of the cost for franchise operations.

The interim franchises will not receive a share of the central revenue pool, but they can earn through gate money and sponsors.