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Is it the end of the road for the Kochi consortium? A Daily News & Analysis (DNA) report would have us believe so.
Vijay Tagore reports that at a meeting held on Friday, the 12th of November, 2010, the franchisee owners agreed to write to the Board Of Control For Cricket in India (BCCI) to cancel the team.The letter is to be submitted this Monday or Tuesday. This is a good two weeks before the deadline extended by the BCCI.
(Well, if there’s bad news to be had , you might as well receive it early.)
The irreconcilable differences in the cobbled-together-unit could not stand the scrutiny of day. The members’ sole concern is to recover the money and bank guarantee submitted to the Board.The agreement fee was $10 million (Rs. 45 crore) and the bank guarantee Rs. 153 crore , 10 per cent of the team’s worth.
In this case, it does seem a case of a terrible beginning making for an equally tragic ending.