The differences among the partners of Team Kochi are not going to end soon. There seem to be disagreements even on the issue of a likely pullout.
A day after DNA published a report about the investors’ plan to give up the team by issuing a letter to the Board of Control for Cricket in India, the promoters of the team have contended that the investors have no locus standi to surrender the team.
“We’re the promoters and they are the investors. As per the franchise agreement, only we can take such a decision,” said Satyajit Gaekwad, the CEO of Rendezvous Sports World Pvt Ltd (RSWPL), the holders of the sweat equity, reacting to a report published in DNA on Sunday.
Rendezvous’ sweat equity has been the bone of contention between them and the investors.
Gaekwad further contended that the team will survive even in the event of a pullout by the investors among who are businessmen from Anchor, Parinee Developers, Rosy Blue Diamond and from Gujarat and Kerala. “The team is ours and only we can surrender it. We can rescue the team even if some investors pull out,” Gaekwad claimed. However, the investors’ side reiterated their plan to meet the BCCI officials in a couple of days and give a letter expressing intention to withdraw.
Earlier in the day, a top BCCI official denied knowledge of Kochi investors’ plans and said they would go by the book and wait for a response till November 27, when the 30-day deadline for Kochi ends.
Meanwhile, it has been learnt that the IPL Governing Council has asked the existing franchise — that is six going by the current number — to nominate the players they want to retain from the previous season. The franchises have to make up their mind and submit their preferences before December 6.
The IPL has decided to allow each team to retain four players — three Indian and one foreign — from their existing sides. And as per another decision, they will forfeit $1.8 million, $1.5 million, $1.2 million and $90,000 money from the $9 million allowed for them to spend. “Even if a Ranji player is retained, the team will have to lose the money from their spend cap,” said a frachise official.
Currently there are only six teams — Mumbai Indians, Chennai Super Kings, Delhi Daredevils, Deccan Chargers, Kolkata Knight Riders and Royal Challengers Bangalore — who are eligible to retain players. Rajasthan Royals and Kings XI Punjab have been left out of the league.
There is a talk in the BCCI circle about seven-team league from next year — considering that Kochi will pull out — but that it’s still in
the discussion stage. A final decision will be taken after
a formal outcome of the Kochi saga.
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