The BCCI has decided to invite bids for two new IPL franchises to replace the suspended Chennai Super Kings and Rajasthan Royals in the next two seasons. The owners of Super Kings and Royals had been suspended for two seasons by the Lodha panel, which had looked into corruption in the IPL.

The board's decision to invite bids for the next two years only, while Super Kings and Royals remain suspended, means that it is not looking to increase the number of franchises from eight. IPL chairman Rajiv Shukla said as much when asked if the IPL will become a ten-team tournament in two years' time, though he did not commit to it. "No, [it will be] just eight teams. That's why the tenders will be given for only two years," Shukla said. "Whichever bidder is interested in buying a team for two years will get it. Then we'll see what to do, whether we should make it a 10-team tournament or what... [For now] the two bids will be invited for two years only for the two vacant slots."

The IPL title sponsorship, meanwhile, was given to Vivo Mobiles, a Chinese phone manufacturer. PepsiCo, the previous sponsor, had ended its deal with the league two years ahead of schedule. It is understood that PepsiCo held the right to transfer its five-year agreement, so the beverage giant brought in Vivo. The terms of the agreement remain the same, so the BCCI will earn Rs 78.2 crore (US$12 million approx) for each of the next two IPL editions from the new title sponsors.

Among other decisions taken at Sunday's working committee meeting in Mumbai, the BCCI also decided to hold its Annual General Meeting on November 9, and extend Nike's deal as apparel sponsors of the Indian team. It also decided to appoint PricewaterhouseCoopers to look into how the funds distributed by the board to its member state associations were being utilised. Auditing giant M/S Deloitte was hired for "Project Transformation", the board's initiative aimed at improving governance, and operational and financial processes - according to a statement explaining the project on the BCCI's website.

This was the first meeting chaired by the new BCCI president Shashank Manohar.

The working committee also rubber-stamped the board's decision to move the treasury office from Chennai to Mumbai, and hire M/S Gokhale & Sathe, a Mumbai-based firm, as internal auditor.

The board's statement following the meeting said it had also decided to "look at the lands offered" by the Karnataka Industrial Areas Development Board for the further development of the National Cricket Academy, which is currently hosted within the Chinnaswamy Stadium premises in Bangalore. National Cricket Academy chairman MP Pandove, IPL chairman Shukla, BCCI treasurer Anirudh Chaudhry and BCCI joint-secretary Amitabh Choudhary will inspect the lands, and take a decision on the same "within one month".