Pune and Kochi have been announced as the two new franchises in the Indian Premier League.At an auction in Chennai, Pune was bought by Sahara Adventure Sports Group for $370m and Kochi went to Rendezvous Sports World Limited for $333m.
The two new franchises will join the IPL from 2011, taking the total number of teams to 10.
Earlier this month, the MCC scrapped plans to buy into an IPL franchise and host matches at Lord's.
Competition to buy the teams reflects the success of the world's richest cricket league, whose third season is currently underway.
Some of India's wealthiest businessmen have bought into the franchises.
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