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I will not prefer an additional team from Maharashtra. They already have Mumbai Indians. IPL need to represent all Indians. So when there is a team from Mumbai, I don't think that another one should be permitted in Pune.
IPL is not created to represent every state and anyone willing to spend around 1500 crore can own a team in the IPL. We already had a team from Pune and if they are adding another team they will be included if there are enough bidders.
Also, Gujarat and Rajashthan should be merged into one team. If there are two teams for these two states then it will result in over-representation. I have the same opinion regarding Kerala as well. South Indian states are over-represented right now. Why no one wants a team from the Northeast? Being a resident of Tripura (and born in Mizoram), I would love to see a team from either Assam, Tripura or Meghalaya.
If you have the money and the facilities to conduct the matches you can bid in the upcoming bid for teams, you can even create a consortium and bid for the team and the major factor that the BCCI is looking for is the infrastructure to play matches in an International stadium and if these things are met you will get a team from your area.
South India is diverse and there is no over representation in the IPL as every state is different from each other from the food we eat to the culture and the language and that is the beauty of India and hence there is no point in talking about over representation, money talks and it is as simply as that.