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The much-talked-about Kochi franchise in the Indian Premier League (IPL) has thrown up yet another surprise. Just days after the owners – having failed to resolve their differences – sent a letter to BCCI withdrawing from the league, Kisan Gaikwad, chairman of Rendezvous Sports World Pvt Ltd (RSWPL), claimed that the “issue has been resolved”.
“Things have finally been resolved and we are very happy. The equity structure is yet to be decided but there has been an understanding. Hopefully, now the franchise will not be lost,” Gaikwad told TOI.
Sunday’s Governing Council meeting in Nagpur will finally reveal whether Gaikwad’s claims are indeed endorsed by BCCI. It is being said that the Gaikwad family has agreed to bring down its holding in the franchise from 26% to 10% and may even pay for up to 5% (out of the 10%) of that equity.
BCCI president Shashank Manohar has been insisting through the last 30 days that the final decision on Kochi would be taken only after November 27, the deadline given to the squabbling investors to resolve their differences which primarily revolve around the shareholding pattern and overall control of the franchise’s cricketing operations.
It is learnt that the two warring parties have decided to appoint a board to look after the cricketing operations.
While the ball is in BCCI’s court, the buzz over the compromise in Kochi ranks gripped the IPL fraternity on Saturday evening.
“The last thing BCCI would want is a fresh auction because the earlier auctions weren’t a very pleasant experience. If Kochi shows signs of a compromise, that is the best thing the board can expect and Kochi seems to have done just that,” an official in the know of developments said.
On the eve of the previous governing council meeting (held on October 27), TOI had reported that the warring parties were willing to come to a compromise before talks fell through.
Source : Times of India
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