Rendezvous hopes to resolve IPL Kochi ownership issue

first_imgEven as the extended one-month deadline set by the Board of Control for Cricket in India (BCCI) to resolve its infighting over the ownership issue related to India Premier League’s (IPL) Kochi franchise inches closer, one of its key constituent — Rendezvous Sports World — has been hopeful of an early solution. The CEO of Rendezvous Sports World, Satyajit Gaekwad, on Monday came out to rubbish suggestions that the Kochi IPL team was on its way out. The under fire owners of the team were on October 27 given a month to resolve the differences within the franchise. With just a few more days remaining, Gaekwad — a part owner of the team — said he was confident of the owners resolving their differences. The Gaekwads have proposed a formula where they offer to pay for 12.5 per cent free equity at Rs 1.2 crore per share. They believe that it would satisfy the other parties. “My brother Shailendra Gaekwad is meeting the investor faction led by Mehul Shah daily in Mumbai for the last four days. We have evolved a formula to resolve the issue,” Gaekwad told Headlines Today. He also claimed there were some outside parties trying to instigate trouble within the group. “There is a section of interested parties which is not part of the consortium which is busy playing spoiler. This section is instigating the Mehul Shah faction to junk the franchise,” he alleged. Gaekwad however went on to say that the co-owners were confident that the IPL Kochi team would survive. He said a better picture of the scenario was possible on Wednesday adding there was time till November 27 to resolve the issue. BCCI says Kochi not on agenda for Nov 17 meetMeanwhile, BCCI president Shashank Manohar told Headlines Today that the IPL governing council would meet again on November 17, however Kochi franchise issue would not be on the agenda. “We will examine all operational and organisational matters pertaining to IPL season 4. Kochi franchise has time till November 27 to revert to show cause notice issued to it by the BCCI,” the BCCI chief said. In the forthcoming meeting, Manohar said, the IPL governing council would look at all players’ contracts, venue agreements and players’ auction for the season four.  “In the eventuality that Kochi doesn’t make the cut, we will cross the bridge when we come to it,” Manohar said adding, “We haven’t confabulated on this matter (auction for a fresh team) yet.”advertisementlast_img

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