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IPL commissioner denies Kochi franchise issues

IPL commissioner Lalit Modi has been forced to deny rumours that the new IPL franchise in Kochi which joins the league in 2001 could be scrapped.

Speaking via Twitter the commissioner said "no such thing was possible", he added that all IPL fans should ignore the media reports stating the franchise could be scrapped by the BCCI as it was just speculation.

He went on to say there were delays but these were only because the consortium agreement had not been agreed yet with the owners, Rendezvous Sports.

Modiís statement was made after media reports stated Rendezvous Sports which brought the franchise for USD 333 million were in disagreement with the IPL over a couple of ownership issues.

These storied emerged a day after it was reported Rendezvous Sports had given away a 25 per cent in the Kochi franchise to an 'unknown party'.

Co-owner Vivek Venugopal told CNN-IBN: "News of transfer of 25 per cent stake to third party is absolutely baseless. We have followed the tender document in letter and spirit. No official statement has come to us from BCCI on any such issue. All documents will be given to BCCI today for clarification."

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