Kochi franchise axed from IPL

2011-09-19 14:12

Mumbai - Kochi Tuskers Kerala were expelled from the money-spinning Indian Premier League on Monday for failing to meet their financial obligations.

N. Srinivasan, the president of the Board of Control for Cricket in India (BCCI), said the ruling body had dropped the Kochi franchise due to an unspecified breach of its contract.

"We have terminated the franchise because the breach is not capable of being remedied," he told reporters in Mumbai.

The franchise is reported to have defaulted on an annual payment of $33.1 million as a bank guarantee, according to the Indian media.

Kochi, who only made their IPL debut this year, finished eighth in the 10-team competition. The next tournament is due to start in April 2012.

The franchise was bought by little-known Rendezvous Sports World group for $333 million at an auction last year when the Pune Warriors also joined the lucrative Twenty20 tournament.

Kochi were earlier involved in a dispute over its ownership structure before being cleared by the BCCI, which owns the IPL, to take part in the 2011 edition.

The IPL has become a major event in the international cricket calendar since it began in 2008, attracting the world's top players and large domestic audiences.

But it has also been hit by a series of financial scandals, and its founder Lalit Modi was sacked in 2010 following allegations of corruption, indiscipline and money-laundering.

The BCCI said that the IPL's governing council would now decide whether to have an auction for a new franchise.

V.V.S. Laxman of India, Mahela Jayawardene of Sri Lanka and Brendon McCullum of New Zealand were among Kochi's top players in the last IPL season.


What To Read Next


Read News24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter


With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs

Under fire Proteas coach Russell Domingo has blamed player workloads and fatigue as the reason for the national team's woeful showing in the Tri Series in the Caribbean. Your thoughts?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.