New IPL teams to be unveiled on March 8

Two new Indian Premier League franchisees will be unveiled on March 8, IPL Commissioner Lalit Modi said on Wednesday.

As has been his wont in recent time, Modi said on his 'Twitter' page that tender forms could be collected from the BCCI/IPL office from February 21 and the bids would be opened on March 8 in Mumbai.

He said Ahmedabad, Nagpur, Kanpur, Dharamshala, Indore, Cuttack, Gwalior and Visakhapatnam are the current cities with stadia that can have bids.

"Rajkot, Pune, Baroda and Cochin, which have new stadia going under construction, are also eligible to be bid for," he said.

The base price for the new teams would be $225 million each, he added.

Modi said the new team owners and management would have access to IPL III so that they can prepare accordingly for the next edition of the cash-awash league.