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Pune and Kochi unveiled as new IPL franchises
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Pune and Kochi were unveiled as the two new IPL franchises, joining the tournament from the 2011 edition. While Pune was bought by Sahara Adventure Sports Group for $370 million, the Kochi franchise was snapped up by Rendezvous Sports World Limited for $333.3 million. In fact, Sahara had the highest bids for three cities - Ahmedabad, Pune and Nagpur - but it eventually opted for Pune.
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