Sachin=GOD Posted September 19, 2011 Posted September 19, 2011 Controversy-ridden Indian Premier League (IPL) franchise Kochi Tuskers Kerala was slapped with a suspension notice for non-payment of bank guarantee by the Board of Control for Cricket in India (BCCI) at its annual general meeting, in Mumbai today. The consortium, which was mired in a bitter ownership dispute after its very inception, defaulted on a Rs156 crore annual payment it was to make as bank guarantee despite reported reminders from the IPL authorities. According to BCCI sources, the franchise has been asked to make the payment within a stipulated timeframe failing which Kochi's participation in the IPL would be terminated. The franchise, which was bought for Rs1,550 crore, is supposed to make the yearly payment for the next 10 years. The team made its debut only last year and was among the laggards in the league. Led by Mahela Jayawardene, the side has also been hitting the headlines due to its owners' reported desire to shift the team's base to Ahmedabad. Kochi had faced the prospect of being axed even last year when the BCCI questioned its shareholding but the matter was settled after agreement between the various owners. Link the comedy circus with this franchise goes on......
Sachinism Posted September 19, 2011 Posted September 19, 2011 Kochi Tuskers suspended from IPL Controversy-ridden Indian Premier League (IPL) franchise Kochi Tuskers Kerala was slapped with a suspension notice for non-payment of bank guarantee by the Board of Control for Cricket in India (BCCI) at its annual general meeting, in Mumbai today. The consortium, which was mired in a bitter ownership dispute after its very inception, defaulted on a Rs156 crore annual payment it was to make as bank guarantee despite reported reminders from the IPL authorities. According to BCCI sources, the franchise has been asked to make the payment within a stipulated timeframe failing which Kochi's participation in the IPL would be terminated. The franchise, which was bought for Rs1,550 crore, is supposed to make the yearly payment for the next 10 years. The team made its debut only last year and was among the laggards in the league. Led by Mahela Jayawardene, the side has also been hitting the headlines due to its owners' reported desire to shift the team's base to Ahmedabad. Kochi had faced the prospect of being axed even last year when the BCCI questioned its shareholding but the matter was settled after agreement between the various owners. http://www.dnaindia.com/sport/report_kochi-tuskers-kerala-suspended-from-ipl-for-defaulting-on-payment_1589060 :hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical: :aha::aha::aha: Poor Jaddu :((:((
ganeshran Posted September 19, 2011 Posted September 19, 2011 :hysterical: :hysterical: Useless team anyway.
Tapioca Posted September 19, 2011 Posted September 19, 2011 Cricinfo says "terminated". When asked if the franchise had any chance of return, Srinivasan responded: "No, we have terminated the franchise because the breach is not capable of being remedied."
ganeshran Posted September 19, 2011 Posted September 19, 2011 Sir John :(( :cleveland: Usually the team he supports just ends up performing like Shyt. But this time he managed to get one kicked out as well :nice:
glogirl Posted September 19, 2011 Posted September 19, 2011 Sir John :(( :cleveland: Usually the team he supports just ends up performing like Shyt. But this time he managed to get one kicked out as well :nice: :hysterical::hysterical::hysterical::hysterical::hysterical::hysterical::hysterical:
Sir john Posted September 20, 2011 Posted September 20, 2011 :((:((:(( poor mallu sachdan. :((:(( :ktk: :wall:
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