IPL: Kochi franchisee in ICU , issued a thirty day termination notice


2008 Indian Premier League

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If the BCCI bigwigs were in a tearing, unholy hurry to terminate the Lalit Modi-associated franchisees — Rajasthan Royals and Kings XI Punjab — they are now dragging their feet and going by the book in their dealings with the Kochi consortium.

The IPL governing council met this morning , October 27, 2010 . After due deliberations they issued a thirty day termination notice to the alliance partners.

Shashank Manohar  — a lawyer by profession —  pronounced that the Kochi franchise’s case is quite different from the other two expelled franchisees. Since there were no new partners added to the shareholding structure , it is considered a ‘remedial breach’ of the agreement. The Kochi franchisee lives on for another thirty days.

"The Governing Council has invoked clause 12 (1) and given them a 30 days notice that in case they don’t remedy these disputes in the 30 days, the franchise would stand cancelled on the 31st day," he said.

The infractions by the other two franchisees have been termed ‘intermediary breaches’.

There was no discussion on Gavaskar’s involvement with the Kochi franchisee.

There , however, appears to be no real resolution of the differences between the warring partners.

Can the embattled partners — the Gaikwads of Rendezvous  and the rest, Anchor Earth, Parinee Developers, Rosy Blue and Film Wave — come to terms before the deadline?

Is there any chance of a rapprochement between the two factions?

Can trust lost be regained? Will financial considerations trump?

Or is this just a drama played out for the media?

(It has been reported earlier that the sums paid by the two franchisees , Sahara Pune Warriors and Kochi, have no real basis and that the valuations were unreal.)

What are the visionary projections that Mr. Shailendra Gaikwad lays claim to?

As an aside , the reported bid by Venkateshwara Hatcheries (VH) , a Rs 3,850-crore poultry giant, to buy English Premier League (EPL) club Blackburn Rovers will cost just £46 million (Rs 325cr), much lesser than the Rs. 1500 crores that the Kochi consortium bid for the South Indian franchise.

Maybe the BCCI should throw open the IPL to foreign entities as well — just to level the playing field.

Quote of the day:
There is nothing more demoralizing than a small but adequate income. – Edmund Wilson

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