We had made a special provision in the BCCI constitution for the Governing Council to function till 2012 because you need continuity. The IPL Governing Council is a sub-committee like any other of the BCCI. But unlike the other sub-committees where it is re-drawn every year, this one function till 2012.

IPL commissioner Lalit Modi announced that two new franchises will be added to India Premier League(IPL) in 2011. IPL currently have 8 teams. This addition will take the count to 10 teams.

A price of $225 million per franchise has been set as the minimum base price for the new teams, following the IPL’s governing council meeting in Mumbai today. Mumbai is the most expensive franchise till now. Reliance industries obtained the Mumbai Franchise for $111.9 million.

Current franchisees will be allowed to retain a few core members of their current teams, and a fresh re-auction has been scheduled to take place in 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 league will conduct an auction for the upcoming 2010 season on January 19 in Mumbai to bring in new players, with a fresh purse of 750,000 made available to each franchisee for the auction.