Sahara Adventure Sports group, part of Sahara Group had won the Pune Franchise in the IPL bid 2010 for a whopping sum of 370 dollar million. The company had bid for three cities Ahmadabad, Nagpur and Pune and had chosen Pune as their base.The Sahara group had chosen Pune based on the logistics and infrastructure facilities available in the city.
The other team that had won the bid was Kochi and both these teams will be in fray for the 2011 IPL Twenty20 league season.There were five groups for the bid and Rendezvous sports group had won the Kochi bid for $333.33 million.The other groups that had participated in the bid was Pune consortium , Adani Groups and VC Digital Solution (Videocon).Adani Group had bid for $315 million and Pune consortium had bid for $261.3 million.
The base price for bidding was $ 225 million and franchise fee has been for a period of ten years.The two teams that had won the bid will joins the eight teams in IPL .The number of scheduled matches has been increased to 94 with the entry of two more teams.
The bidding was scheduled to be held on March 7 ,2010 in Mumbai and had been rescheduled after the bidders and BCCI had decided to change the strong financial clause.The bidders want to remove a clause that stipulated that the bidding companies should have a net worth of $ one billion.That was agreed by the IPL management team.The entry fees clause of the bid had been opposed by the BCCIPresident and secretary and the reason that had been put forward was that it was not part of earlier auctions.
The advance deposit clause or performance guarantee had been reduced from $100 billion to $ ten billion by the IPL management team.The other change was that the winner of the bid will be asked only ten percent of the winning bid in 48 hours.It was only after making the above changes ,bidding took place.
Sahara Pune Warriors had appointed former Australian Opener Geoff Marsh as head coach and Dermot Reeve as the assistant coach.
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