IPL Kochi’s fate likely to be decided todayDecember 5th, 2010 - 12:20 pm ICT by ANI
Mumbai, Dec 5 (ANI): Suspense over the fate of the Indian Premier League (IPL) Kochi franchise will finally end as the Governing Council meets here today to take a decision on the issue.
The Governing Council had last week deferred its decision on the franchisee for the third time, after the investors reached a last-minute shareholding agreement.
Barely seven months after becoming the second most costliest team in the IPL, Kochi was on the verge of being thrown out of the event due to the shareholding dispute between the consortium’s investors.
The investors - Anchor Earth, Parinee Developers, Rosy Blue and Film Wave — hold 74 per cent of the equity. The remaining 26 per cent lies with the Gaikwad family - Shailendra, his brother Ravi and their parents all part of Rendezvous Sports World, as free equity for services rendered while bidding.
On Friday, the Bombay High Court had extended the deadline for the IPL franchisees to sign up their respective “marquee” players till December 8.
The BCCI, which had, on October 10, expelled Kings XI Punjab and Rajasthan Royals from the IPL for allegedly violating contractual agreements, had given the Kochi IPL team 30 days to sort out its problems.
The BCCI made it clear that eight teams will take part in the fourth edition of the league scheduled from April 8, just six days after the World Cup. (ANI)
- BCCI allows Kochi to participate in IPL 4 - Dec 05, 2010
- IPL governing council decides in favour of Kochi (Lead) - Dec 05, 2010
- Kochi franchise informs IPL GC about inability to resolve ownership dispute - Nov 25, 2010
- Rendezvous adamant on 25 percent stake in Kochi IPL team - Oct 27, 2010
- BCCI-Kochi IPL deadlock continues - Oct 22, 2010
- Kochi IPL franchise gets a month to sort out ownership differences - Oct 27, 2010
- Kochi franchise to stay in IPL - Dec 05, 2010
- Kochi pulls out of IPL (Lead) - Nov 25, 2010
- Kochi IPL gets 30 days to resolve its problems - Oct 27, 2010
- Kochi out of IPL, board likely to call for fresh bids - Nov 25, 2010
- Decision on Kochi IPL team deferred till Dec 5 - Nov 28, 2010
- BCCI terminates IPL agreements of Rajasthan Royals, Kings XI Punjab - Oct 10, 2010
- Mega-bucks from mofussil Maharashtra in IPL kitty - Apr 16, 2010
- In huge IPL shake-up, Rajasthan and Kings are axed (Roundup) - Oct 10, 2010
- IPL: Kochi wants to shift to Ahmedabad - Aug 16, 2011
Tags: bcci, bombay high court, contractual agreements, december 8, film wave, franchisee, franchisees, governing council, ipl, kochi, marquee players, premier league, punjab, ravi, rendezvous, rosy blue, seven months, shareholding, six days, sports world