MOHANLAL AND PRIYADARSHAN QUIT

There have been reports earlier that Mohanlal and Priyadarshan are keen on owning the Kerala IPL team. It was expected that the two will place a bid this year. However, with the regulations being brought in, the duo decided to bow out of the race.

Earlier Saif Ali Khan and Kareena Kapoor also decided not to make their bids after the IPL cancelled the team auction in the last minute.

Sources say that those bidding for a team must submit Rs. 300 crores for participating in the auction and produce a Rs. 5000 crores guarantee from any nationalized bank.