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The Board of Cricket Control in India on Monday terminated the contract of the Indian Premier League (IPL) franchise Kochi Tuskers Kerala.
The termination came on the grounds of non-payment of franchise fee for the second year, according to BCCI officials.
“Because of the irremediable breach committed by the Kochi franchise, the BCCI has decided to encash the bank guarantee in their possession and also terminate the franchise,” said the new BCCI President, Mr N. Srinivasan, at the 82{+n}{+d} Annual General Meeting of the organisation.
However, the Kochi franchisee's IPL innings might not yet be over.
According to Mr Mukesh Patel, Chairman, Kochi Tuskers Kerala, the team's legal squad is working on what steps can be taken to challenge the decision of the BCCI.
BCCI officials also added that the team defaulted on an Rs 157-crore annual payment despite the team getting constant reminders from the IPL authorities. “We will decide on whether to conduct a fresh auction for a new franchise or to keep the tournament at nine teams at the next IPL Governing Council meeting,” said a senior BCCI official.
The Kochi team's Chairman said that the notice for termination of the team is wrong and illegal. “Our legal team is reviewing it. We have already paid up Rs 157 crore to BCCI and not a single penny is left to be paid. In fact, it is the BCCI which has to pay us for the broadcasting rights for the next season,” said Mr Patel.
“We had two demands from the BCCI. We wanted them to change the venue of the Kochi Stadium as it was near a shopping centre. Besides the BCCI had scrapped 8-10 matches after floating the tender, leading to Rs 300-crore loss for us and we wanted to get compensated for the same.”
Kochi Tuskers Kerala was bought for Rs 1,550 crore and was supposed to make the yearly payments for the next 10 years.
Last year, the Kochi franchise had faced the prospect of being axed when the BCCI had questioned its shareholding pattern. But the mater was later settled after an agreement between the various owners.
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