Kochi Tuskers Kerala co-owners hopeful for an IPL return

New Delhi: When Chennai Super Kings and Rajasthan Royals are all set for an IPL return after serving a two-year ban, another defunct franchise Kochi Tuskers Kerala is harping hopes of an IPL rebirth.

The franchise which had its contract terminated in 2011 due to an alleged breach of the contract by the consortium of five companies put together by its owners wants the BCCI to reinstate it for the next editions of IPL. 

The demands came after BCCI approached the owners for an out-of-court settlement. BCCI finds itself at the wrong end of the court proceedings against Kochi and will have to shell out Rs 1080 crore as compensation to the franchise. 

The decision to opt for an out-of-court settlement was taken in the Special General Body Meeting (SGM) on Saturday. 

The CoA on the other hand has advised the co-owners of Kochi to approach BCCI in a formal way for a re-entry into the tournament.

The Kochi Tuskers were terminated after just 2 seasons of IPL and some of its players are yet to receive their full payments.

If the franchise does have its way then IPL 11 will see a return of as many as 3 franchises. All this while there is still no official word on the fate of Gujarat Lions and Rising Pune Supergiant, the two new franchises who replaced CSK and RR for two seasons. 

The board however, is not keen to allow the franchise a return to IPL and wants them to be content with compensation.

“There is no chance of giving them their place back in IPL. They want them because they want to sell it? The only way out is for them to accept the one-time settlement and put the issue to rest,” a BCCI was quoted as saying by the Indian Express.