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10-29-2010, 10:19 AM #1
Kochi IPL fighting a losing battleThe Board of Control for Cricket in India (BCCI) might have given Kochi IPL team a fresh lease of life by giving them a 30-day deadline to resolve all their problems, but it seems the consortium is a fighting a losing battle.
According to sources, it seems the Board has also given up hopes and has started to make a back-up plan, which includes inviting fresh bids for a new franchise.
Many of the members in the Indian Premier League Governing Council also believe that the dispute between the two groups in Kochi franchise over ownership does not look like ending soon with no party ready to bow an inch.
The IPL Governing Council, after an emergency meeting to discuss the issue, served a 30-day termination notice to the franchise to sort out its differences failing which it would stand cancelled.
Even BCCI president Shashank Manohar's statement after the meeting makes things very clear.
"The Governing Council received replies from two parties, the Rendezvous group and the other co-owners, and they both felt that the dispute still exists," Manohar said after the meeting.
The Rendezvous World Sports Group, owned by the Gaekwad brothers including Satyajit, Ravi, Kisan and their parents hold 25 percent free equity in the franchise, which was offered to them for their role in getting the consortium together and the successful bid for the franchise at Rs. 1300 crore....being a human...