Kochi team pulls out of IPL: Report

Last Updated: Nov 25, 2010, 09:40 AM IST

Zeecric Bureau

New Delhi: Keralites’ dream of having an IPL team of their own might be finally over with reports that the investors behind IPL`s Kochi franchise have finally decided to pull out of the venture are a long and controvercial build-up even before it could formulate a team on paper.

It is learnt that the investors have yesterday informed this to the BCCI, three days before the 30-day termination notice ends. According to reports, they have sent a letter of withdrawal to BCCI president Shashank Manohar on Wednesday.

The BCCI last month gave a 30-day notice to Kochi IPL consortium to sort out its internal differences and get its ownership structure in order.

This will also pave the way for the Cricket Board to have a discussion on inviting tenders for a new franchisee, which will ensure that at least eight franchisees participate in the next edition of the IPL.

The BCCI had last month also terminated its contract with the Kings XI Punjab and Rajasthan Royals franchisees alleging that they have violated the contractual agreement and changed their share-holding pattern without informing the Cricket Board.