BCCI sets Kochi deadline 28/10/2010 |
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The Board of Control for Cricket in India (BCCI) has ordered the Indian Premier League’s (IPL) new Kochi franchise to fix an ownership row or be thrown out of the competition.
Shashank Manohar, president of the BCCI, said: "We have given Kochi 30 days to sort out their problems."
Kochi team owner Satyajit Gaekwad told the BBC he was "extremely grateful".
If the dispute is not settled, Kochi could join Rajasthan Royals and Kings XI Punjab on the sidelines next April.
That could leave the annual Twenty20 cricket tournament, played between eight franchises for its first three editions, with just seven teams in 2011 when it had been expected to feature 10.
The Kochi franchise was bought by the little-known Rendezvous Sports World Limited for $333m at an auction in March to add two new teams to the existing field of eight. The other new franchise is based in Pune.
A dispute arose in Kochi when the various stakeholders in the franchise voiced their opposition over a 25 per cent free equity share for Rendezvous Sports.
Gaekwad, speaking to BBC Hindi, insisted he was working on a resolution.
He said: "Despite our problems, we have been given time. The onus is on us to settle our feud and go back to the BCCI with respectability. We are sure we will be able to sort out our differences.
"We cannot dilute our 25 per cent stake – instead we are ready to reduce our free equity from 25 per cent to 10 per cent. The talks are on."
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