Tuesday, September 20, 2011

Kochi Franchisee Terminated from IPL Over Breach of Payment

Kochi Tuskers Kerala The Kochi franchisee has been terminated from the IPL from 2012
 
In a stunning decision, the BCCI did not just serve a suspension note but went ahead and terminated their IPL’s troubled association with the Kochi franchisee after only one season.

The BCCI Annual General Meeting saw more drama than was expected. While N.
Srinivasan took over Shashank Manohar as the BCCI President, his first order of
business was cutting off BCCI’s ties with the one franchisee that no one seemed to get
along from the start.
Whether it was the lingering effect of the then IPL chairman and commissioner,
Lalit Modi,and the Shashi Taroor battle that cost the Kochi franchisee a realistic chance
as the rest of the nine IPL franchisees remains speculative.

What the new BCCI President made clear in his first press conference since taking up
the position was to state categorically that the doors had been shut on the Kochi franchisee
bought by Rendezvous Sports. While earlier there was concern that the Kochi team was suspended over financial dues, N. Srinivasan, who himself has a stake in the Chennai
Super Kings, made it clear that there was no comeback for the Kochi Tuskers Kerala
in the IPL 2012 season but rather the franchisee stood terminated.

The bone of contention between the two new franchisees and the BCCI had been the
fact that the two franchisees had been bid for huge sums of money that outbid the first
eight teams. Under the premise that the IPL would extend to ninety-four matches, Sahara
who own the Pune Warriors India and Rendezvous got into a spat with the BCCI over
the final amount to be paid because the matches for IPL 4 had been reduced to
seventy-four as against the promised ninety-four. Having initially withholding the
payments, the matter was understood to have been resolved after it was claimed that
both the new franchisees had paid their dues but in protest over failed promises.

However, the BCCI has now claimed that Kochi had defaulted on their payment which
is basically to say that Kochi were apparently not keen to keep up their end of the bargain
if the BCCI did not go through with the matches. The BCCI meanwhile has encashed
the bank guarantee of the IPL franchisee and have not only served the Kochi team a
warning but terminated them altogether over what the BCCI has termed as breach of
contract. The BCCI has vindicated their decision on the stance that the Kochi was unable
to come up with the financial requirements agreed upon and therefore, stands in
violation. Such has been the BCCI’s stance on the issue that the new BCCI president
has stated that there is no way the Kochi can come back into the IPL set up because
in his own words, the breach was irreversible.

This now implies that there are nine teams standing in the IPL, two of which have fought
their way through a stay through court intervention, with Kochi having now been officially
axed. Kochi has only played the IPL 4 season and the results were nothing to boast
about. For the trouble riddled Kochi team, the BCCI’s termination appears more than
a matter of money. The BCCI though have deemed themselves the final authority on
the subject which has meant no room for Kochi on the IPL bandwagon.
 

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