A new trophy was designed for IPL 4 in view of the two new teams which are now in the fray. It has been changed to a large cup instead of a map of India.
Franchises
The winning bidders for the eight franchises were announced on 24 January 2008. While the total base price for auction was US $400 million, the auction fetched US $723.59 million.
On 21 March 2010, Pune and Kochi were unveiled as the two new franchises for the fourth edition of the Indian Premier League. The base price was $225 million. While Pune was bought by Sahara Adventure Sports Group for $370 million, the Kochi franchise was bought by Rendezvous Sports World Limited for $333.3 million. The process was to have been completed on March 7 but was postponed by two weeks after many bidders and the BCCI objected to stiff financial clauses. The second franchise auction fetched total $703 million.
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