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BREAKING NEWS : Kochi IPL Team might be scrapped

ViruRulez

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Mumbai: Kerela’s dream of having a franchisee of its own in the Indian Premier League looks to be turning sour as, if sources are to be believed, Team Kochi might be scraped altogether. A consortium of various business groups, under the umbrella of Rendezvous, had bid Rs 1300 crore for the Kochi based franchisee at an auction last month. However, the status of one of the partner in the consortium, who owns a 25% stake, remains ‘unknown’. The Kochi franchisee has to submit its papers to the IPL board by Monday. The consortium has been asked to present its case and sign the agreement, mentioning all its partners, in Mumbai. IPL sources also hinted at the identities of the partners without taking their names directly. “BCCI has been confidentially told that a minister, a former India captain and a cricketer who’s currently playing for India are also part of the consortium. Their names should also figure in the agreement document.†‘‘This free equity business will have to be investigated and that is why the Kochi team’s agreement has been returned. We hope the owners come clean on this. If there are seven partners or eight parties involved, let them come out in the open and sign the document. We have no problem,’’ a top BCCI official, who didn’t wish to be named, said. However, the Kochi camp vehemently denied that any such transfer of stake had taken place. They also insisted that they would submit the agreement papers to BCCI on Friday itself. The CEO of the Kochi franchisee, Shailendra Gaikwad, denied any such differences with the board. ‘‘I am not aware of such an event,’’ he said. “We have won the Kochi team fair and square and we are very serious about going ahead with it,†he insisted.
http://www.zeenews.com/news617594.html It is now showing on other channels too.
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ViruRulez

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And no surprises that the first source of this news was Zee News :giggle:
It seems to be true .. Times Now is also reporting .. the problem is because they are not declaring stakeholders name for 25% .. so it means legally BCCI may not be able to extract the 25% money and everything might be messed up .. that is the problem with BCCI .. they are saying that Kochi group should have decided about it and finalized the complete 100% before submitting the bid .. it looks like they at first made the bid and are now searching for all the investors :hysterical:
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ViruRulez

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All the news channels are showing this news. Shashi Tharoor should be the Minister but who could the ex-captain and current player be??
Sreesanth :idea: Has he captained any domestic side etc. in his life :woot: BTW if Sree captains the side, they can expect to be the next KKR of IPL :giggle:
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It seems to be true .. Times Now is also reporting .. the problem is because they are not declaring stakeholders name for 25% .. so it means legally BCCI may not be able to extract the 25% money and everything might be messed up .. that is the problem with BCCI .. they are saying that Kochi group should have decided about it and finalized the complete 100% before submitting the bid .. it looks like they at first made the bid and are now searching for all the investors :hysterical:
Well they should be penalised then.They didnt have the funds and now they are in need of funds for their team's bidding fees :hehe: Kochi = :fail:
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Whic hdomestic side has Sree captained :hmmm:
Ok it says this:
BCCI has been confidentially told that a minister, a former India captain and a cricketer who’s currently playing for India are also part of the consortium
It seems the former India captain and present cricketer are separate partners in the consortium Assuming the minister is Shashi Tharoor and the present India player is Sreesanth (or maybe Goddy :idea: or somebody else ) then who is the former Indian captain ... BTW it might not be from Kerela and it might be somebody like Ganguly, Azhar, Sunil Gavaskar, Nawab Pataudi etc. (Pataudi might be a good chance as Saif-Kareena were also interested in the Videocon consortium supposedly during the first auction bids and they also supposedly bought the forms and went on the date of the first auction release though it was scrapped) DISCLAIMER: All are assumptions :P
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abhinav Newbie

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Ok it says this: It seems the former India captain and present cricketer are separate partners in the consortium Assuming the minister is Shashi Tharoor and the present India player is Sreesanth (or maybe Goddy :idea: or somebody else ) then who is the former Indian captain ... BTW it might not be from Kerela and it might be somebody like Ganguly, Azhar, Sunil Gavaskar, Nawab Pataudi etc. (Pataudi might be a good chance as Saif-Kareena were also interested in the Videocon consortium supposedly during the first auction bids and they also supposedly bought the forms and went on the date of the first auction release though it was scrapped) DISCLAIMER: All are assumptions :P
Fine logical deduction about Pataudi, Veeru..sounds very likely indeed! :hatsoff:
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ViruRulez Newbie

ViruRulez

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Just for people who are doubting Zee News, TOI has mentioned that IPL sources directly told to TOI about it. Check this TOI news:

NEW DELHI: IPL action off the field is often more dramatic and suspenseful than the matches themselves. That’s certainly how it’s turning out for the consortium of businessmen that bagged the Kochi franchise. Even before it could set about building a team, the franchisee ran into trouble with the Board of Control for Cricket in India, which returned the agreement papers. IPL sources claimed the Kochi franchisee reportedly gave 25% of its shareholding for life to some unknown entities, free of cost when it has itself bid almost Rs 1,500 crore to obtain the franchise. The sources told TOI the consortium has been asked to present its case and sign the agreement, mentioning all its partners, in Mumbai by Monday. However, sources in the Kochi camp denied that any such transfer of stake had taken place. They also insisted that they would submit the agreement papers to BCCI on Friday itself. IPL sources told TOI, ‘‘BCCI has been confidentially told that a minister, a former India captain and a cricketer who’s currently playing for India are also part of the consortium. Their names should also figure in the agreement document’’. ‘‘This free equity business will have to be investigated and that is why the Kochi team’s agreement has been returned. We hope the owners come clean on this. If there are seven partners or eight parties involved, let them come out in the open and sign the document. We have no problem,’’ a top BCCI official, who didn’t wish to be named, told TOI. The CEO of the Kochi franchisee, Shailendra Gaikwad, denied any such differences with the board. ‘‘I am not aware of such an event,’’ he said. However, other sources from the Kochi camp said that these were just ‘‘delaying tactics’’. ‘‘We have won the Kochi team fair and square and we are very serious about going ahead with it,’’ they said.
http://timesofindia.indiatimes.com/iplarticleshow/5775917.cms Agreement papers have been returned as of now it seems. But they have time till Monday to clear everything up it seems.
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lol @ zee news :hehe: there is a saying in Naarth India " ke apna bacha bhalay he fail ho jaye lekin padosi ka ladka first nahi ana chahiye "
Dan :rofl:
Abe title to theek kar de .. dono mods post kar ke chale gaye without correcting the thread title :hitler:
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