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Sanjiv Goenka, Intex buy IPL teams

| | Dec 08, 2015, at 08:01 pm
#Sanjv Goenka # Intex buy IPL teams # IPL teams
Mumbai, Dec 8 (IBNS) In a 'reverse bidding' process Sanjiv Goenka and Intex procured or bought IPL teams in the recently concluded auction.

The IPL after suspending Chennai Super Kings and Rajasthan Royals were a 6-team tournament and hence the special auction was arranged in which two teams were chosen. The new teams will have to exit IPL after two years.

The base price for thew auction was Rs 40 crore and the reverse auction meant, that the team with the lowest amount won the bid.

Confirming the news, IPL tweeted: "Sanjeev Goenka’s New Rising wins bid for Pune team. Intex wins bid for Rajkot team for next two seasons of vivo IPL."  

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