speed_demon Posted September 19, 2011 Posted September 19, 2011 Brad Hodge celebrates dismissing Pinal Shah, Kochi Tuskers Kerala v Rajasthan Royals, IPL 2011, Indore, May 15, 2011 Kochi Tuskers Kerala will not be part of future IPLs Ž© AFP Enlarge Related Links Series/Tournaments: Indian Premier League Teams: India | Kochi Tuskers Kerala The Kochi Tuskers Kerala IPL franchise has been terminated by the BCCI for breaching its terms of conditions, the new board president N Srinivasan has said after the annual general meeting in Mumbai. "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," Srinivasan said. 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." The BCCI also appointed Rajiv Shukla as the new IPL chairman, succeeding Chirayu Amin, and said that the league's governing council would take a decision on whether to have a another auction for a new franchise. With Kochi's termination, the ten-team competition will be reduced to nine. The consortium that owns Kochi is reported to have defaulted on an annual payment of Rs 156 crores as a bank guarantee. In April 2010, the BCCI's working committee had rejected demands from Kochi and the Pune Warriors for a reduction in their franchisee fees. The two new franchises, which made their debuts in 2011, had sought a 25% waiver on the grounds that the BCCI had stated in the bidding document that each team would play 18 league matches in a season. The schedule was later reduced to 14 matches per team. The two teams already paid 75% of this year's installment and wanted the balance waived. They argued the reduction in matches was a breach of the terms of the Invitation to Tender the board had issued before the two new teams were bought. Since they had based their bid on the number of matches to be played, a reduction in matches should therefore be accompanied by a reduction in the franchise fee. However, the BCCI voted to turn down the request at its meeting in Mumbai in April. In March 2010, the Sahara group bid $370 million to became owners of the Pune franchise while a consortium of five companies called Rendezvous Sports World offered US$333.33 million for Kochi.
mishra Posted September 19, 2011 Posted September 19, 2011 I think a better approach will be to fine the franchise for breaching (whatever ). I dont like or understand why they got to terminate a frenchises contract. It allways looks to me like decision made to exploit the frenchise
IKnowU Posted September 19, 2011 Posted September 19, 2011 This is what happens when you sell players off like cows and sell teams to buyers who are in it make a quick buck. oops I forgot. Also make scapegoats out of people and pretend nothing happened.
ganeshran Posted September 19, 2011 Posted September 19, 2011 they will be back. Will sue in court and promise to pay or something like that.
IKnowU Posted September 19, 2011 Posted September 19, 2011 they will be back. Will sue in court and promise to pay or something like that. They did that last time. :giggle:
rajmarie Posted September 19, 2011 Posted September 19, 2011 Well well well..Mr Modi...former IPL boss was right all along. KTK was in trouble from start...& yet BCCI fired Modi & created KTK...LOL....This is BCCI spitting up in the sky &....having it fall back on its face. Good thing...1 less team. Now lets see which is the next team to fall. IPL even though it was fun to watch initially..is killing Indian cricket faster then anticipated.
punjabi_khota Posted September 19, 2011 Posted September 19, 2011 :hahaha: Not enough remittances from Gelf it seems this last quarter :(( :P :hahaha:
yoda Posted September 19, 2011 Posted September 19, 2011 So they took their money and terminated them? Amazing.
Pagalpanti Posted September 19, 2011 Posted September 19, 2011 Dhoni has got a chance now to grab both Jaddu and Sree. :giggle:
WC2011INDIA Posted September 19, 2011 Posted September 19, 2011 Dhoni has got a chance now to grab both Jaddu and Sree. :giggle: No way he gets Sree. Jaddu has a good chance of ending up in CSK
ganeshran Posted September 19, 2011 Posted September 19, 2011 We dont want Jaddu in CSK :protest: :protest:
bulbul Posted September 19, 2011 Posted September 19, 2011 So they took their money and terminated them? Amazing. Wondering who are they :hmmm:
b555 Posted September 19, 2011 Posted September 19, 2011 wheres jayawardene gonna go if given a chance
yoda Posted September 19, 2011 Posted September 19, 2011 So gals like Jaya who went for 1.5 mil have to go back into auction? Something tells me the Jaya household might end up doing a lot of returns this week. :hahaha: Then again, the $1.5 mil from last season is probably enough to buy everything in SL. :((
Mariyam Posted September 21, 2011 Posted September 21, 2011 The Kochi Tuskers Kerala IPL franchise has been terminated by the BCCI for breaching its terms of conditions, the new board president N Srinivasan has said after the annual general meeting in Mumbai. "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," Srinivasan said. 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." The irremediable breach is a breach not capable of being remedied!!! :haha: Captain Secretary obvious, N Srinivasan. And why should a 'breach' be capable or incapable? The people who have breached should show their capabilities. :P And now the interesting part. In April 2010, the BCCI's working committee had rejected demands from Kochi and the Pune Warriors for a reduction in their franchisee fees. The two new franchises, which made their debuts in 2011, had sought a 25% waiver on the grounds that the BCCI had stated in the bidding document that each team would play 18 league matches in a season. The schedule was later reduced to 14 matches per team. The two teams already paid 75% of this year's installment and wanted the balance waived. They argued the reduction in matches was a breach of the terms of the Invitation to Tender the board had issued before the two new teams were bought. Since they had based their bid on the number of matches to be played, a reduction in matches should therefore be accompanied by a reduction in the franchise fee. However, the BCCI voted to turn down the request at its meeting in Mumbai in April. In March 2010, the Sahara group bid $370 million to became owners of the Pune franchise while a consortium of five companies called Rendezvous Sports World offered US$333.33 million for Kochi. Sounds like such a flimsy reason to terminate Kochi's contract. And apparently the bid was made on an assurance of 18 league games. The BCCI changed the IPL format at short notice, hurting the newer teams. What about the Pune Warriors? Have they paid up the remainder of their amount?
yoda Posted September 21, 2011 Posted September 21, 2011 Sounds like such a flimsy reason to terminate Kochi's contract. Not paying the franchise fee is flimsy reason?
bulbul Posted September 21, 2011 Posted September 21, 2011 Not paying the franchise fee is flimsy reason? But KTK argument also looks good....IPL promised 94 match tournment then reduced it to 74 .. so some payment issue happened there also....
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