Valuations of IPL teams reach new record  

The Indian Premier League set a new record on Sunday, as it sold two new teams for $703m in a clear sign of the growing interest among companies to reach India’s burgeoning consumer classes via the country’s most lucrative sporting extravaganza.
Indian conglomerate Sahara and Rendezvous Sport bought the Pune and Kochi teams for $370m and $333m, respectively, more than the total it fetched for the franchise of eight teams it auctioned when the cricket tournament was launched two years ago.

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