Modi to remain IPL chairman till 2012

Putting an end to speculation, BCCI President Shashank Manohar today announced that Lalit Modi will remain the Chairman of the Indian Premier League (IPL) till 2012.

"There has to be some continuity and I want to make it clear that Modi will remain in the post till 2012 and nobody can remove him from that," Manohar said after the IPL Governing Council's meeting here today.

Modi's future as the Chairman-cum-Commissioner of the IPL looked uncertain after reports surfaced that key BCCI officials, including secretary N Srinivasan, were plotting to oust him from the management of the Twenty20 extravaganza which is considered his brainchild.

Manohar's clarification, however, puts an end to all those surmises and makes it clear that Modi's job is safe till 2012.

The IPL Governing Council also announced that the third edition of the Twenty20 league would start in Hyderabad on March 12 and DY Patil Stadium in Hyderabad would host the final on April 25.

While the Governing Council had earlier announced adding two more teams from the 2011 edition of the league, it said the minimum bid for them would be $225 million.

Manohar also said that the upper limit in the January 9 players' auction would be $7,50,000.