Apycom jQuery Menus
-
 
   
1 of 2
1
Post Reply
New Topic
Kochi franchise terminated by BCCI
Posted: 20 September 2011 07:50 AM   [ Ignore ]
Fan
rossfan21
Total Posts:  16
Joined  31/08/2011

The Kochi Tuskers Kerala IPL franchise has been terminated by the BCCI for breaching its terms of agreement, the new board president N Srinivasan has said after the annual general meeting in Mumbai.

“Because of the irremediable breach committed by the Kochi franchise, the BCCI has decided to encash the bank guarantee [for 2010] in its possession and also terminate the franchise,” Srinivasan said. When asked if Kochi had any chance of returning, Srinivasan responded: “No, we have terminated the franchise because the breach is not capable of being remedied.”

The trigger for the decision was the franchise’s inability to furnish a new bank guarantee for 2011. Under the terms of the franchise agreement, each franchise has to submit a bank guarantee every year that covers the fee payable to the BCCI. “We waited for six months for the fresh bank guarantee to come,” a top BCCI official told ESPNcricinfo. “They kept saying they will, they will, they will. That had no meaning.”

According to the official Shashank Manohar, who stepped down as BCCI president at the AGM, had told Kochi’s owners that in case they needed an extension, they should send a letter signed by all the owners stating they would fulfill their commitments under the franchise agreement or the BCCI could encash the bank guarantee. The franchise had assured Manohar they would send the letter the same evening.

“The last president [Manohar] said that that if you want an extension of two to three days or more, you give us a letter signed by all the owners saying that we undertake to pay the guarantee money by such and such a date,” the official said. “And if we fail to do that we have no objection to the bank guarantee to be encashed by the BCCI.”

The official said the Kochi owners sent a “simple letter” that did not include all the details Manohar had asked for and so the board took the decision to terminate the franchise. “[These] things do not work. It is even unfair to the other franchises.”

According to the official, the BCCI was not worried about Kochi going to court because it was the franchise that had defaulted. As for the players, they are likely to go back into the auction. “And in case the players’ dues are not paid, we would ensure that it is paid from the bank guarantee money we encash.”

The chairman of Kochi, Mukesh Patel, however, denied that the franchise owed the board any money. “The BCCI notice is wrong, prima facie,” he told PTI. “We will take legal action against them after our legal team reviews the case in a day or two. Maybe we have to move court. We have never defaulted. The BCCI will be paying us Rs 12 to 15 crore ($2.5 million to $3.13 million) next month as a part of our central revenue.”

The franchise’s dispute centres on the BCCI’s decision to reduce the number of IPL games from 94 to 74. “The number of games in Tender Document was 94; they then reduced it to 74 but did not reduce the franchise fees.”

The BCCI also appointed Rajiv Shukla as the new IPL chairman, succeeding Chirayu Amin, and said that the league’s governing council would take a decision on whether to have another auction for a new franchise. With Kochi’s termination, the ten-team competition will be reduced to nine.

The consortium that owns Kochi is reported to have defaulted on an annual payment of Rs 156 crores as a bank guarantee. In April 2010, the BCCI’s working committee had rejected demands from Kochi and Pune Warriors for a reduction in their franchisee fees. The two new franchises, which made their debuts in 2011, had sought a 25% waiver on the grounds that the BCCI had stated in the bidding document that each team would play 18 league matches in a season. The schedule was later reduced to 14 matches per team.

The two teams already paid 75% of this year’s installment and wanted the balance waived. They argued the reduction in matches was a breach of the terms of the Invitation to Tender the BCCI had issued before the two new teams were bought. Since they had based their bid on the number of matches to be played, a reduction should therefore be accompanied by a reduction in the franchise fee. However, the BCCI voted to turn down the request at its meeting in Mumbai in April.

In March 2010, the Sahara group had bid $370 million to became owners of the Pune franchise while a consortium of five companies called Rendezvous Sports World offered $333.33 million for Kochi.

 

Source:Cricinfo

View Profile
PM
 
 
Posted: 20 September 2011 08:52 AM   [ Ignore ]   [ # 1 ]
Fan
Total Posts:  196
Joined  29/03/2010

Greate..come back by kochi tuskers…

they r really played well in this season..

View Profile
PM
 
 
Posted: 21 September 2011 06:05 AM   [ Ignore ]   [ # 2 ]
Fan
Total Posts:  270
Joined  05/04/2010

Kochi players must be reshuffled !!!!

View Profile
PM
 
 
Posted: 21 September 2011 05:32 PM   [ Ignore ]   [ # 3 ]
Fan
Achuthanandan
Total Posts:  27
Joined  16/09/2011

KTK must be back

View Profile
PM
 
 
Posted: 21 September 2011 05:44 PM   [ Ignore ]   [ # 4 ]
Fan
Anoopnair
Total Posts:  91
Joined  15/04/2011

KTK is a gud team

View Profile
PM
 
 
Posted: 21 September 2011 05:48 PM   [ Ignore ]   [ # 5 ]
Fan
Total Posts:  50
Joined  17/04/2011

want them back

View Profile
PM
 
 
Posted: 22 September 2011 12:57 AM   [ Ignore ]   [ # 6 ]
Fan
Total Posts:  73
Joined  29/08/2011

want Brendon Mccullum back

View Profile
PM
 
 
Posted: 22 September 2011 03:56 AM   [ Ignore ]   [ # 7 ]
Fan
KrishnaGiriraj
Total Posts:  123
Joined  26/08/2011

YA,
KTK must be BACK..

View Profile
PM
 
 
Posted: 22 September 2011 04:24 AM   [ Ignore ]   [ # 8 ]
Fan
Total Posts:  355
Joined  18/04/2010

its bad that koch is out of the IPL…....

View Profile
PM
 
 
Posted: 22 September 2011 04:25 AM   [ Ignore ]   [ # 9 ]
Fan
Total Posts:  355
Joined  18/04/2010

kochi should be back…..

View Profile
PM
 
 
Posted: 22 September 2011 05:48 AM   [ Ignore ]   [ # 10 ]
Fan
KUNALatRCB
Total Posts:  331
Joined  05/08/2011

Sorry to know that

View Profile
PM
 
 
Posted: 22 September 2011 05:49 AM   [ Ignore ]   [ # 11 ]
Fan
KUNALatRCB
Total Posts:  331
Joined  05/08/2011

They should negociate with bcci

View Profile
PM
 
 
Posted: 22 September 2011 05:50 AM   [ Ignore ]   [ # 12 ]
Fan
KUNALatRCB
Total Posts:  331
Joined  05/08/2011
STUNN - 21 September 2011 06:05 AM

Kochi players must be reshuffled !!!!

If thats the case then v must buy jadeja

View Profile
PM
 
 
Posted: 22 September 2011 07:04 AM   [ Ignore ]   [ # 13 ]
Fan
karthik-shetty4
Total Posts:  982
Joined  10/09/2010
KUNALatRCB - 22 September 2011 05:50 AM
STUNN - 21 September 2011 06:05 AM

Kochi players must be reshuffled !!!!

If thats the case then v must buy jadeja

 

 

Not only Jadeja but our local heroes Balachandra Akhil,Vinay Kumar and Deepak Choughule.

View Profile
PM
 
 
Posted: 22 September 2011 07:50 AM   [ Ignore ]   [ # 14 ]
Fanatic Fan
Total Posts:  423
Joined  13/01/2011

really very unfortunate

View Profile
PM
 
 
Posted: 22 September 2011 10:08 AM   [ Ignore ]   [ # 15 ]
Fan
Total Posts:  196
Joined  29/03/2010

Hip Hip Hurray !!!!!!!!

View Profile
PM
 
 
Posted: 22 September 2011 12:04 PM   [ Ignore ]   [ # 16 ]
Fan
sharadshenoy
Total Posts:  8
Joined  22/09/2011

this is a loss for da IPL!!

View Profile
PM
 
 
Posted: 22 September 2011 05:57 PM   [ Ignore ]   [ # 17 ]
Fan
Total Posts:  423
Joined  27/03/2011

It was a sad end to a good team. But money is what all matters for BCCI and I am sure they dont want to see any loss at their side. It would be good if they have bought that team and still had the IPL running.

View Profile
PM
 
 
Posted: 23 September 2011 05:42 AM   [ Ignore ]   [ # 18 ]
Fan
Total Posts:  116
Joined  15/09/2011

they must come back strongly

View Profile
PM
 
 
Posted: 23 September 2011 09:27 AM   [ Ignore ]   [ # 19 ]
Fan
Total Posts:  196
Joined  29/03/2010

Singer Enrique Iglesias to perform at CLT20 inaugural ceremony

View Profile
PM
 
 
Posted: 23 September 2011 11:52 AM   [ Ignore ]   [ # 20 ]
Fan
niranjan1nnn
Total Posts:  349
Joined  23/09/2011

if d players of kochi r auctioned,, then RCB must look for some indian player like RAVINDRA JADEJA r VINAY KUMAR etc

View Profile
PM
 
 
   
1 of 2
1
Fast Reply
Post Reply
New Topic
 
‹‹ Gud evening frnds      KKR rockzzzzzzzzz ››