Kochi Tuskers Kerala demands BCCI to let them play in next year’s IPL

Kochi Tuskers Kerala demands BCCI to let them play in next year’s IPL: Arbitration goes in favor of Tuskers as BCCI is ordered to requite Rs 550 crore to former IPL franchise Kochi Tuskers. Earlier the Kochi Tuskers team was terminated from the IPL in 2011 by the Board due to alleged violation of the contracts.

Things got interesting when Kochi Tuskers refused to accept the money and demanded BCCI to let them take part in next year’s IPL. But BCCI aren’t interested in Kochi’s demand as they are satisfied with 8 teams.

Reports reveal that the arbitration which was handled by R C Lahoti, former Chief Justice of India, has gone in favor of the Tuskers. According to which BCCI must pay 550 crore to Tuskers and if they fail 18 per cent of the penalty will be charged annually.

A BCCI representative was quoted saying, “They want their IPL team to be restored from next season. We will have to explore all legal options before saying anything more on this,”

BCCI doesn’t seem to have agreed with the demand of KTK and they ready to challenge the decision in the court. “The BCCI is going for legal opinion on this and we will see if we can challenge it in the High Court. The decision has come as a setback to us but we are looking at all possibilities,” he added.

Kochi Tuskers was established as a conglomerate of 5 companies which was organized by Rendezvous Sports World which made a bid of Rs 1560 crore for the City franchise.

Earlier BCCI demanded Kochi to submit fresh bank guarantee in 2011. But as Kochi failed to produce any documents within time, it resulted in BCCI terminating the contract of the franchise. Reports reveal that Tuskers requited BCCI Rs 340 crore before their contract was terminated. And BCCI encashed Tusker’s bank guarantee of Rs 156 crore which the franchise opposed. Due to these issues many players faced difficulty in receiving payments in time and few players including Muttiah Muralitharan who haven’t received their dues yet.