Kochi under pressure to disclose owners details
Rendezvous Sports World, owners of the new IPL franchise in Kochi have come under pressure from the BCCI to disclose their ownership structure or risk losing the franchise.
The owners - Mukesh Patel, Harshad Mehta, Saket Mehta, Vivek Venugopal, Atul Shah and Nerul Shah; own 74 per cent of the team but the details of the final 26 per cent of the ownership structure are unknown.
The stake was originally owned by Sunanda Pushkar, wife of former Union minister of state for external affairs Shashi Tharoor but she returned the shares during the summer.
The ongoing uncertainty prompted the BCCI to announce last week that Rendezvous Sports World would need to disclose their full ownership structure or risk losing the franchise.
After last weeks BCCI annual general meeting; President Shashank Manohar said "If they are not able to resolve them, the board cannot work with them. We cannot deal with two groups of individuals."
Rendezvous Sports World were awarded the Kochi franchise in March after bidding $333 million during the IPLís franchise auction beating offers made by Adani Enterprises and VC digital solutions Pvt Ltd (Videocon).