BCCI gives Kochi IPL franchise the boot

MUMBAI: India?s cricket board has scrapped the contract of Indian Premier League (IPL) franchise Kochi Tuskers Kerala for breaching its terms and conditions, setting in process the possibility of a lawsuit.

The Board of Control for Cricket in India?s new president Narainswamy Srinivasan said today the decision to "terminate the franchise" was over payment issues.

The Kochi franchise defaulted on a Rs 1.56 billion annual payment it was to make as bank guarantee.

Srinivasan, who took over the reins as BCCI president from Shashank Manohar, said the board will encash the annual bank guarantee in order to recover the dues that the franchise owes.

"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," he stated at a media briefing after the board?s annual general meeting here today.

Asked if the BCCI would reconsider its decision and give the franchise a chance to return, Srinivasan bluntly rejected such a suggestion. "No, we have terminated the franchise because the breach is not capable of being remedied."

The consortium behind the kochi franchise has threatened legal action against the BCCI. Earlier the franchise owners had wanted a reduction in their fee on account of the number of their matches being reduced.

Added to the IPL last season as one of the two teams along with Pune Warriors, the Kochi franchise has been at the centre of controversy from its inception with former IPL chairman Lalit Modi questioning the shareholding pattern.

The IPL, which consists of ten city-based teams, will have its governing council take a decision on whether to have another auction for a new franchise.

In March 2010, the Sahara group had bid $370 million to own the Pune franchise while Rendezvous Sports World offered $333.33 million for Kochi.

For the record, this is the third franchise whose contract the BCCI has gotten involved with. It tried to terminate the contracts of Rajasthan Royals and Kings XI Punjab last year but the franchises got relief from the court. Those matters are still to be settled.

Meanwhile, the BCCI appointed Rajeev Shukla as the new IPL chairman, succeeding Chirayu Amin.

Vilasrao Deshmukh was appointed the Media Committee chairman, Farukh Abdullah is the Marketing Committee chairman, Jyotiradiya Scindia is Finance Committee chairman while G Viswanath replaces Amarnath in the IPL Governing Council. Stepping into Srinivasan?s shoes as BCCI secretary is Sanjay Jagdale.