BCCI to Pay Heavy Amount to This Scrapped IPL Team

Kochi Tuskers Kerala, who was one of the two teams alongside Pune Warriors India to play the first Indian Premier League (IPL) to feature 10 teams, has won the arbitration over wrongfully terminating the franchise.

Kochi Cricket Private Limited demanded a whopping amount of Rs 850 crore from the Board of Cricket Control of India (BCCI) as compensation.

The issue was discussed on Monday at the IPL Governing Council meeting before moving on to the general body who will take the final call.

IPL’s chairman Rajiv Shukla after the meeting addressed the media and said,

“Kochi Tuskers has demanded Rs 850 crore as compensation. Today we discussed the matter at IPL GC (Governing Council) meeting, and we will now place the matter before general body. Let them take a call, but obviously, some negotiations are needed.” BCCI’s offer to pay Rs 460 crore was rejected by the franchise owners earlier this year.

The franchise won the case of arbitration in 2015 when they challenged BCCI’s decision to encash bank guarantee mentioning it as a breach of contract. The panel headed by RC Lahoti has directed the apex body to pay the franchise Rs 550 crore as compensation with 18 percent annual penalty for failing to pay.

However, after losing the case against Kochi, BCCI has taken no steps either to pay them or to bring them back in the tournament. A member of IPL’s Governing Council was heard saying that no option was left other than paying the amount because it will be stupid of us to move to the Supreme Court when an arbitration decision is already against us.

The decision to terminate Kochi Tuskers Kerala was taken by the then President of BCCI, Shashank Manohar single-handedly, after disagreeing with the other members.

Reportedly, Kochi Tuskers demanded Rs 300 crore before going to the Court, and the BCCI officials denied giving them and now the compensation amount is more than double of what they asked earlier.

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