The two new Franchise teams of IPL that have already been announced will be playing this season as Pune and Rajkot. These teams however, will replace Chennai Super Kings and Rajasthan Royals.

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Kolkata’s business tycoon, Sanjiv Goenka the Chairman of RP won the bid for Pune TEam while Intex won the bid for Rajkot. These bids will be valid for the next two seasons of vivo IPL. While Goenka is reported to shell out Rs 10 crore per year to the BCCI, Intex Mobiles qill pay Rs 16 crore for the two year deal.

These two new franchises have been sold for a period of Two years after which they will have to exit leaving room for Chennai Super Kings and Rajasthan Royals till they are eligible to make a come back as the two teams were suspended in 2013 IPL for a spot-fixing scandal.

Other regions that were up and available for bid were Chennai, Dharamsala, Nagpur, Cuttack, Kanpur, Indore, Ranchi and Visakhapatnam.

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