Kochi franchise survived the axe to play in the 4th IPL. On Sunday the IPL Governing Council approved the ownership structure. With this approval the suspension hovering over the franchise ended. BCCI ensured at least eight teams will be in the tournament.
The IPL Governing council was pleased with due response from the Kochi Franchisee. They also legally examined the new ownership pattern submitted by the consortium's investors. BCCI vice-president Rajiv Shukla said the ownership structure satisfied the legal team of the Board. The board then decided to declare Kochi the eighth Franchise of IPL and allowed it to play next IPL scheduled from April 8, just six days after the World Cup
Satyajit Gaikwad, CEO of Rendezvous Sports World Pvt Ltd said the franchisee will now seat for deciding business to prepare for T20.In a board meeting they will fix future course of action. Rendezvous Sports World Pvt Ltd is working for the promotion part for the franchisee.
Kochi franchisee (Karala side for 4th T20 IPL) was on the point of being out of the tournament because of the differences among the investors of the consortium over share holding pattern just after about seven months of its formation. The BCCI gave them a deadline to solve their internal difference. At the last moment they prepared a new ownership pattern and BCCI approved it.
Via: CRICKET NDTV