New Delhi, Dec.17 (ANI): Terming reports stating there is any rift in the Board of Control for Cricket in India (BCCI) as baseless, its President Shashank Manohar on Thursday said Lalit Modi will continue to be Indian Premier League (IPL) chairman till 2012, when the duration of his term ends.

“Modi is not being removed as IPL chairman. He’s appointed till 2012 and he will stay there. All this speculation is false,” an NDTV report quoted Shashank Manohar as saying.

“He is doing an excellent job, and there is no rift in the BCCI,” a Times Now reported Shashank as saying.

Meanwhile, IPL Chief Lalit Modi has informed that two new franchisees would be added to IPL in 2011 and minimum bidding for a team would be 225 million dollars. 7,50,000 dollars would be the upper limit in the January 9 players’ auction. (ANI)