IPL GC meets on 17 Oct to chalk out future strategy

MUMBAI: After BCCI terminated Deccan Chargers and floated a tender for a new IPL franchise, it is the IPL Governing Council which has decided to meet here on 17 October to chalk out future strategy for the tournament.

IPL GC is expected to discuss the termination of Deccan Chargers for breach of contract.

The meeting also holds significance since it is happening at a time when the 31 October deadline of re-signing players is looming large. All the franchises are expected to renew contracts with their existing players.

"There is a meeting of the IPL Governing Council in Mumbai on October 17th. I don?t know any other details," said BCCI CAO Prof Ratnakar Shetty.

IPL GC is made up of Chairman Rajeev Shukla, Arun Jaitley, Anirudh Chaudhary, Dr G Ganga Raju, Sanjay Patel, Amitabh Choudhary, Ravi Shastri and M P Pandove.

The Deccan Chronicle Holdings Limited (DCHL), the parent company of Deccan Chargers, was unable to furnish a bank guarantee of Rs 1 billion which meant that its association with IPL ended. The Court had clearly said that the termination notice will stand if DCHL fails to provide Rs 1 billion unconditional and irrevocable bank guarantee.

Following DCHL?s inability to furnish bank guarantee as per Court direction, the arbitrator had passed a status order thereby throwing a lifeline at the beleagured media company.

The status order passed by the arbitrator also gave five more days to DCHl to furnish bank guarante despite the Bombay HC refusing to entertain their plea to extend the deadline. The BCCI had obtained a stay order from the Bombay HC against arbitrators decision thereby dashing its hopes of entering IPL.

The DCHL had on Friday also announced that it was in talks with real estate firm Kamla Lanmarc to sell the franchise. However the deal could go for a toss now that the termination notice is in effect.

The BCCI had on Sunday invited tenders for a new IPL team.

The tender notice for a fresh franchise invites bids for 12 cities: Hyderabad, Ahmedabad, Cuttack, Dharamsala, Indore, Kanpur, Kochi, Nagpur, Noida, Rajkot, Ranchi and Visakhapatnam.

The last date for submission of the bids is 25 October. Bids can be collected from today. Under this invitation to tender, the winning bidder will be granted the right to own and operate a new team which will compete in the IPL from 2013 onwards.