The IPL Governing Council will meet on December 17 to rule on expanding the 8-city league to 10 cities by the 2011 season.  According to press reports, Modi said, "we hope to close it in the first few months of 2010".  Franchises for cities in Kerala and Gujarat are rumored to be among the three or four cities that have been proposed.   And the list of potential owners ranges from actors (Salman Khan, Ajay Devgan, etc.) to the usual list of industrialists.

The new franchises are expected to auction for well over $ 200 million. 

Separately, a player auction will be held for IPL 3.0 this month on the 19th.