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	<title>IPL News &#187; IPL Auction Failure</title>
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		<title>IPL 2011 Auction Failure</title>
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		<pubDate>Mon, 08 Mar 2010 04:30:15 +0000</pubDate>
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				<category><![CDATA[IPL News]]></category>
		<category><![CDATA[IPL 2011]]></category>
		<category><![CDATA[IPL Ahmedabad]]></category>
		<category><![CDATA[IPL Auction Failure]]></category>
		<category><![CDATA[IPL Pune]]></category>
		<category><![CDATA[Lalit Modi]]></category>

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		<description><![CDATA[Grand IPL 2011 auction failed miserably. It was the first setback for Modi, who started the league with promises of quick riches for the teams. Participation in the auction for the two extra teams to join the IPL next year required a bank-guaranteed cheque of $100-million and net worth of $1-billion from bidders. It was [...]]]></description>
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