IPL franchise Kochi Tuskers Kerala suspended over non-payment – Cricket News Update
The Board of Control of Cricket in http://www.senore.com/Cricket/India-c750 (BCCI) has suspended the newly embedded Indian Premier League franchise, Kochi Tuskers Kerala, over non-payment of Bank guarantees mounting up to 156 crores.
The Kochi based franchise has been in constant controversies since its inception and now faces a legal battle to ensure payments are made if they are to participate in next year’s tournament.
According to reports, the BCCI sent a formal request to the franchise to pay their remaining dues - yearly payments for up to 10 years for a figure in the region of 156 crores.
With failure to adhere to the notice, the BCCI in the Annual General Meeting, has now decided to suspend the Kochi outfit and has sent a legal notice in the regard.
However, officials from the team claim that they owe no money to anyone.
“We don’t owe one single paisa to the board,” a top team official said, clarifying that their payments have been regular. “On the contrary, the BCCI owes us the money. We are yet to receive the last installment of the television revenue that is due to us,”
the official remarked.
The IPL team earlier requested the board to shift its head quarters to Ahmedabad after failing to attract viewership from http://www.senore.com/Cricket/Kerala-c803. This led them to suffer heavy losses in their first year in the competition, an issue which was under consideration
The IPL authorities said that relocating won’t be much of a concern but with new controversy surfacing it will be interesting to see the stance of both parties.
Regarding the matter a spokesman of the franchise added, “We face a lot of problems in Kochi and we have sought permission to shift our base. We have not received any reply from the BCCI. And now, we get these notices. If they take any action, we will have
no choice but to explore legal options.”
Along with Pune http://www.senore.com/Cricket/Warriors-c861, which were bought at a cost of 1702 crores, Kochi was bid over 1500 crores, a combined figure which was greater than the other eight franchises of the competition. Both teams had a disappointing first season.
Tags: