Mumbai:The third edition of the Indian Premier League will begin on March 12 in Hyderabad with the final to be held at the D Y Patil Stadium in Navi Mumbai on April 25, the BCCI announced on Thursday.
"The matches are going to kickoff in Hyderabad on March 12. The third place match will be held at D Y Patil stadium on April 24, while the final will also be held at the D Y Patil stadium on April 25," IPL Chairman and Commissioner Lalit Modi said after the IPL Governing Council's meeting on Thursday.
The semi-finals will be held at Bangalore, he added. Modi said two new franchisees will be added to the current tally of eight teams from the fourth season of the IPL in 2011.
"There will be two new franchisees with a minimum bid price of USD 225 million. They will come into operation in 2011. We will follow the same process for the new teams as during the first auction," he said.
Modi announced that the auction for the fourth IPL would be held between the third and fourth quarter next year.
"The auction for 2011 onwards for the teams will take place sometime between the third and fourth quarter of 2010 after season three of the IPL and probably after the 2010 edition of the Champions League because we don't want too many changes in the teams during the Champions League," he said.
"The current franchisees will be able to keep a certain number of players. The modalities are being worked out and we will announce that shortly," he added.
Modi said the IPL governing council has decided to remove the rule that restricted a franchisee from having more than two Australian players in their ranks.
"There was a restriction being imposed on having two Australian players in a team. The governing council has removed those restrictions," he said.
Modi indicated that few players had been traded by the franchisees in the ongoing trading period.
"As you know trading is to finish day after tomorrow. Few trades have taken place. We will announce that as soon as the trading is finished," he said.
On the participation of Pakistani players in the next season of IPL, Modi said, "Unfortunately the trading window began, they could not participate in it. There is auction window coming up and the Pakistani players will be put up at the auction."
The auction has been announced on January 19, with the upper limit being decided at USD 7,50,000 by the governing council, he said.