Kochi franchise still waiting to hear their fate
Despite issuing a 30-day notice to the Kochi IPL consortium last month to sort out its internal differences the BCCI are expected to scrap the franchise during their IPL Governing Council meeting in Mumbai on Wednesday.
With no signís of an agreement between the consortium and Rendezvous Sports World looking likely the BCCI will scrap franchise and set in place a tender for two new teams.
The owners of the franchise are still trying to resolve the ownership differences between the five groups of investors; who still havenít agreed on who will have control of the franchise after successfully bidding $333 million at the IPL franchise in March.
The investors include finance companies Anchor Earth, Parinee Developers, Rosy Blue and Film Wave; who hold 75 per cent of the equity. The remaining 25 per cent of the franchise was given to the Gaekwads family as free equity for their help in successfully bidding for the franchise.
Having been handed a 30 day reprieve the owners will now have to resolve their ownership differences or risk losing the franchise all together.