New Delhi, Oct. 27: The Board of Control for Cricket in India has served a termination notice to the faction-ridden Kochi IPL franchise, but along with a 30-day extension to resolve its stakeholding tug-of-war.
The decision, taken unanimously in a hastily-convened IPL: governing council meeting in Nagpur on Wednesday, gives the $333-million team until November 27 to settle the dispute on who would run its affairs.
At the end of the deadline, the investors behind the franchise will have to file a joint reply explaining why it should not be scrapped from IPL.
“The governing council received replies from two parties, the Rendezvous Group and the other co-owners, and the board felt that the dispute still exists,” said the BCCI president, Mr Shashank Manohar.
“They have been given a 30-day notice. In case they don’t remedy this dispute, the franchise will stand cancelled on the 31st day,” he said. The governing council has invoked clause 12 (1) of the board’s constitution, which a BCCI official confirmed was to ensure that there were legally protected.