Kochi Tuskers Kerala Team Suspended From IPL

In the BCCI Annual general meeting held on 19th September 2011, the Board of Cricket Council in India took a firm decision to terminate the contract of Kochi IPL team, Kochi Tuskers Kerala. The suspension announcement came after the Kochi Tuskers Kerala failed to pay the bank gurantee of Rs 156 crores. The Kochi team joined the IPL only in the year 2011. Speaking to reporters the new BCCI president N Srinivasan told that, "Because of the irremediable breach committed by the Kochi franchise, the BCCI has decided to encash the bank guarantee in their possession and also terminate the franchise". When asked about the reconsideration of the decision taken by the BCCI today to terminate the Kochi IPL team, Srinivasan said that, this will not be reconsidered as the team violated the rules set by the board.

The Kochi IPL consortium from the beginning of the formation were been in the headlines as there evoked some indifference between the team owners. Even after time to time reminders to pay the bank guarantee, the team failed to pay it. As per rule of the IPL each team had to pay the bank guarantee for the nest 10 years. The franchise of the Kochi IPL team was bought for Rs 1,550 crore. As the Kochi team is being terminated from the next IPL season, the last season of IPL which had 10 teams will now reduce to 9.

It's reported that if needed a fresh auction to invite new franchise would be taken if the IPL governing council wish to do so. Today, Rajiv Shukla had been named as the new chairman of IPL.

So let us wait for more news from the BCCI and the IPL whether the IPL dream of Kochi Team and the Kerala cricket fans will be buried for ever.