Kochi IPL team gets a 30-day lifeline

At the end of the deadline given by the the Board of Control for Cricket in India (BCCI), 30-day lifeline to Kochi franchise has come as a breather.

However, BCCI has also invoked clause 12 (1) to ensure that they were legally protected in case any of the parties moved to court in the future.

For now, the Kochi franchise are intrepreting the notice as a lifeline. “We had asked for 10 days and they’ve given us 30. Hopefully it’s more than enough time to get our house in order,” Shailendra Gaekwad of the Rendezous Group told this newspaper.

“We see it as an opportunity and we’re thankful to the BCCI,” he went on to point out.

Infighting has however marred the franchise ever since its inception in March. It has become divided into two factions — Rendezous Group that holds 26 cent per cent share in the team out of which 25 is sweat equity and corporate firms like Anchor Earth, Parinee Developers, Rosy Blue and Film Wave which together hold the remaining 74 per cent.

Gaekwad, however, said he was willing to pay for 12.5 per cent of the sweat equity for the sake of consensus.

“We have already conveyed our wish of bringing in the money for half of it to the BCCI today and the other investors last night. Some of them have already accepted our proposal. We’ll use the grace period to get others on board as well,” he claimed

If the dispute is not settled, Kochi could join the likes of teams such as Rajasthan Royals and Kings XI Punjab on the sidelines.

Kochi and scrapped teams’ situation are different: BCCI
Asked why Kochi had been given more time after two other franchises were terminated over ownership issues without any notice, Manohar said both the cases were different from Kochi.

“This not an intermediary breach that has been committed like in the case of Rajasthan Royals and Kings XI Punjab so that is why they have been given 30 days time to remedy this. Theirs is a remedial breach,” he explained.

“As far as Royals and Kings XI are concerned there was transfer of ownership but as far as Kochi is concerned there is no transfer of ownership therefore 30 days time for the agreement has been given,” he said.

On what the BCCI thought of former governing council member and ex-India captain Sunil Gavaskar’s name being linked to Kochi, Manohar said the matter was not of the board’s concern.

“What discussion took place between Mr Gavaskar and Mr (Satyajit) Gaekwad is known only to Mr Gavaskar and Mr Gaekwad, the BCCI does not know,” he said.

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