BCCI’s compensation to Kochi Tuskers is a mammoth 1,750 crore and still increasing
The Kochi Tuskers was one of two new franchises added to the IPL for the 2011 season, alongside Pune Warriors India.
Updated - Feb 25, 2019 6:12 pm
The Board of Control for Cricket in India (BCCI) is unhappy with Kochi Tuskers Kerala’s compensation claim from the board. The Committee of Administrators had settled the compensation claim with the team at Rs. 800 crore two years ago. But the board has not cleared the payment yet.
According to reports which are shocking, the debt is now around “Rs. 75 lakh per day”. If the payment is delayed for any more time, the due might become unaffordable for even the world’s richest board, revealed a BCCI insider.
The Indian board had terminated the Kochi Tuskers franchise in 2011 but the termination was unlawful according to the Supreme Court and thus a compensation of Rs. 550 crore was asked from the board for the franchise. The board was also asked to pay interest at 18% per year on the total amount. After negotiations, the due was brought down to Rs. 800 crore.
However, the board could not clear the payment due to operational issues and with each passing day, the amount is only increasing. According to the report, the matter can only be resolved only by BCCI’s general body. “If the Kochi issue isn’t settled immediately, BCCI may have to pay more than Rs. 800 crore. Earlier, the general body members were trying to bargain after the promoters agreed on Rs. 800 crore,” a BCCI source was quoted as saying on Inside Sport. “Some time back, the amount was pegged at Rs 1,750 crore. Now, it may have gone up manifold,” he added.
A solitary season in 2011
The Kochi Tuskers was one of two new franchises added to the IPL for the 2011 season, alongside Pune Warriors India. On 19 September 2011, the BCCI announced that the Kochi Tuskers Kerala IPL franchise was terminated for breaching its terms of the agreement. In the only season they played, the franchise boasted of players like Mahela Jayawardene, Brad Hodge, Parthiv Patel, Brendon McCullum and others. That season, they lost eight matches and won six, finishing eighth on the points table.