Franchises[edit]
The winning bidders for the eight franchises were announced on 24 January 2008.[24] While the total base price for auction was US$400 million, the auction fetched US$723.59 million.[25]
On 21 March 2010, teams from Pune and Kochi were unveiled as the two new franchises for the fourth edition of the Indian Premier League. The base price was $225 million. While Pune was bought by Sahara Adventure Sports Group for $370 million, the Kochi franchise was bought by Rendezvous Sports World Limited for $333.3 million. The process was to have been completed on 7 March but was postponed by two weeks after many bidders and the BCCI objected to stiff financial clauses.[26] The second franchise auction fetched total $703 million.
The rights to the Hyderabad franchise were awarded to the Sun TV Network in October 2012.[27]
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