The 3rd season of IPL is scheduled to play with the 2009 winners Deccan Chargers playing against SRK owned Kolkata Knight Riders.
Indian Premier League has decided to add 2 more franchise for the 4 edition, making a total of 10 IPL Teams.
Franchisees will be able to retain a few core members of their current teams and a new auction has been scheduled for the second half of next year in time for the new franchises to formulate their squads for season four of the IPL in 2011.
The minimum base price for the new teams has been set at $225m (£140m) which more than twice the amount paid for the most expensive team (Mumbai Indians) in the initial auction in January 2008.
Shri Shashank Manohar, chairman of the BCCI endorsed the work done by Lalit Modi as the IPL chairman and commissioner.
He also confirmed that Mr Lalit Modi will hold the post as IPL commissioner and chairman through to 2012.
The IPL auction for the next 2010 season will be held on 19 January in Mumbai to bring in new players, with a fresh purse of $750,000 made available to each franchisee for the auction.
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