Former IPL team Kochi Tuskers Kerala are all set to make a comeback to biggest cricket league IPL next season as RC Lahoti-led justice panel has asked Indias cricket board (BCCI) to shell out INR 1080 crore to erstwhile Indian Premier League (IPL) franchise.
However, Kochi Tuskers are reportedly keen to make a comeback to IPL rather than take the money. The franchise was terminated after an alleged breach of the contract in which BCCI asked to submit a bank guarantee of 10% of the total franchise fee, Kochi Tuskers faltered and the BCCI terminated their contract in September 2011.
The franchise was a consortium of five companies put together by Rendezvous Sports World. BCCI back then asked to put a fresh bank guarantee but Kochi franchise failed to manage so in the given six months deadline.
BCCI joint secretary Amitabh Chaudhary, before the start of the SGM, informed the rest of the present members about BCCI’s loss in the arbitration proceedings against Kochi Tuskers. The BCCI has to pay Rs 1080 crores to the franchise as awarded by the court. Currently BCCI has 2 option in front of them.one is to file an appeal against the arbitration verdict and the other option is to proceed a compromise deal with the owners of Kochi Tuskers kerala. If BCCI shows readiness to involve in a compromise deal, then there is all possibility for Tuskers to be included in the next edition of IPL.