IPL expansion franchise Kochi could be scrapped
The Board of Control for Cricket in http://www.senore.com/Cricket/India-c750 (BCCI) has given the IPL franchise of Kochi an ultimatum to create a joint venture and register the company in the next 10 days or be scrapped. The IPL team of
Kochi was one of the two new teams that were added to the existing group of eight and was to play in the tournament from the 2011 edition.
However, the problems seem to have arisen between the various owners of the franchise over management decisions, causing the BCCI to take this stance. IPL Kochi is owned by a consortium of five different
individuals and companies.
According to the BCCI chief, http://www.senore.com/Cricket/Shashank-Manohar-c89791, they had received two letters from the two groups within the consortium exhorting him not to consider the other group as the legal one.
"We will issue them a show-cause notice and give them a timeframe that you have to incorporate your company within this timeframe,” said Manohar. He also added that if the same was not done, the franchise
will be disbanded.
However, it was not only Kochi which seemed to have borne the brunt of a suddenly-strict BCCI. The franchises of http://www.senore.com/Cricket/Punjab-c833 have also been issued notices for the financial irregularities
shown.
The IPL side of Kochi has had issues since the time that they had signed up with the BCCI as the tenth team in the competition. Immediately after winning the bid worth $333.33m for a period of 10 years, the
BCCI had found out that there had been more partners in the consortium than it had earlier claimed. A new agreement was later signed but the erstwhile chairman Lalit Modi exposed the ownership details of the franchise on Twitter.
Modi is now out of the IPL and the BCCI, but the Indian cricket board has taken upon itself to clear the mess that was created from that controversy. Manohar said that the IPL could go on with eight or nine
teams.
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