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  • Home >> Cricket >> Kochi IPL Team is cleared and will take part in IPL Season 4

    Kochi IPL Team is cleared and will take part in IPL Season 4

    Kochi IPL Team will be happy to know that BCCI has finally given the clearance to play the IPL Season 4 which will be held right after ICC World Cup 2011 which will be hosted in India.

    According to the article in TOI in October:

    Investors in the Kochi IPL team seems to have prevailed over the sweat equity holders. Indications emerging from BCCI show that the investors have managed to ensure that the Gaekwads’ sweat equity in Kochi IPL consortium is down to just 5%.

    Under the agreement, it was to be 25%, and to be held by Rendezvous Sports World Private Limited (RSWPL). RSWPL, in which Shashi Tharoor’s wife Sunanda Pushkar was a stakeholder, was also to buy 1% equity from the consortium. Tharoor recently told TOI that he and his wife would have no stake in the consortium.

    Check out Sweat Equity

    Kochi was one of the three teams that win the bid in the Auction early this year. In April 2010, there was lot of issues creeping up due to Tweets by Lalit Modi and Shashi Tharoor. After this IPL Gate, Shashi Tharror and Lalit Modi were ousted.

    It seems that problem have been resolved between the owners. BCCI will be running the Kochi IPL Team.

    “The IPL governing council confirmed that the Kochi franchisee had satisfactorily responded to the notice issued to them by the BCCI, and decided that the franchisee Kochi Cricket Pvt Ltd, would play in the IPL from 2011 onwards,” the BCCI said in a release after the meeting.

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