BCCI could go for an out-of-court settlement with Kochi Tuskers Kerala
The KTK franchise, however, wants to be back in the IPL fold.
What’s the story?
Kochi Tuskers Kerala, the team from down south was included in the IPL bandwagon back in 2011 but was quickly ousted from the league for a breach of contract by the BCCI.
Ever since that notice, both parties have been at each other's throats in the High Court. However, last week, BCCI SGM Amitabh Choudhary announced to the board that KTK had won arbitration proceedings against the board and that they would have to eke out Rs 1,080 crore.
“The general body is aware of the matter and we will decide our next course of action accordingly,” Choudhary said as quoted by the Indian Express.
However, in another development, the Kochi franchise is looking to stage a comeback into the IPL and the BCCI has asked the KTK management to approach it through formal means once again.
Having said this, there appear to be mixed signals from the BCCI as one source close to the board said that "there is no chance of giving them their place back in the IPL."
The BCCI lawyers have advised the board to resolve the matter out of court as it would be better than facing further music from the court.
It must be mentioned here that back in 2015, a justice panel chaired by former CJI, RC Lahoti, had directed the BCCI to pay Rs 550 crore to the franchise, failing which they would be charged an 18 percent penalty on an annual basis. The Indian board did not take this lying down and challenged the order in a higher court.
In case you didn’t know...
Kochi Tuskers Kerala were terminated by the BCCI in 2011 after an alleged breach of contract by the consortium of five companies put together by Rendezvous Sports World.
Back then, the board had asked the franchise to submit a fresh bank guarantee within six months. However, the franchise did not honour the deadline following which BCCI terminated their IPL contract. Also, the players who represented Kochi are yet to receive their dues completely.
Since the BCCI is willing to resolve the matter out of the court, it would be interesting to see what route the Kochi Tuskers take as they are in the driver's seat as of now. Also, the response of the board regarding their application to return to the IPL could have plenty of discussions and hectic parleys.
The BCCI seems to be in a conciliatory mood and hence this out-of-court settlement could be the best way forward. However, how the Kochi franchise plays it from here will make for some compelling viewing.