The second edition of the IPL would be held abroad, most probably in England from April 10 to May 24, following the decision to this effect taken by the Cricket Board today.

Modi said that the Twenty 20 event would be a loss making venture for the Board as it had made all arrangements, including logistics, centrally.

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"Cost is not an issue. We will cover it all. We are not concerned whether we make a profit or loss. We need the continuity," he said.

He also said it was upto the franchises on the number of players they wanted to take to the host country in the second edition.

"The franchisee owners have option to take any number of players. They can try to limit the number of players that are going to take up," he said.

Modi made it clear that the event cannot be held in more than one country because of logistical reasons.

"In a tournament of this magnitude the 49 matches cannot be held in more than one country. Logistics come into account. It is a mammoth task and it is going to only one country," Modi said.