Kochi gets green signal for IPL 4 season

Dec 5 (FLS) : In spite of earlier hiccups faced by the Kochi IPL team, it has finally been shown a green signal by the IPL governing council today which in a meeting decided to retain the Kochi franchise after the owners sorted out their differences in the shareholding pattern.

The meeting which continued for two hours was attended by some of the Kochi owners including Satyajit Gaikwad the head of Rendezvous Sports, franchise’s promoters and IPL governing council members including BCCI secretary N Srinivasan who confirmed the participation of the Kochi Cricket Pvt. Ltd in the fourth season of IPL which begins on April 8.

The decision means that the IPL in 2011 will have at least eight teams, while uncertainty continues over the fate of the two franchises that were terminated – Rajasthan Royals and Kings XI Punjab.

The decision came as a huge relief for the Kochi franchise as their IPL dream looked all but over when Nov 25, barely two days before the deadline given to them to sort out their ownership issues. The owner of Kochi Pvt. Ltd, Satyajit Gaekwad of Rendezvous Sports World told IANS that the Gaekwad brothers have decided to bring down their stakes from 25 to 10 per cent.

The Sahara Pune franchise is the other new entrant in the multi-million dollar event. Player auctions are scheduled for January 8-9.

Thus, IPL is all set to make a fresh start after its founder Lalit Modi was sacked for corruption, money laundering and indiscipline in September.

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