The Kochi IPL Franchise may get new life on 5th December. The consortium Members reached an agreement in the last moment on their share holding pattern and sent a fresh proposal to BCCI On Saturday. BCCI decided to fix the fate of the franchise on 5th December in Mumbai. BCCI will get the proposal examined by legal experts before taking any decision.
Kochi IPL was formed seven months ago and became the second most costly team. The franchise was bought for a fibulas sum of Rs 1533.33 crore. But the team was on the verge of being thrown out of the game as a result of difference among the shareholders of the franchise over ownership pattern. In the new pattern Rendezvous Sports will have 10 percent stakes of the team coming down from 26% as in the past ownership pattern. The other investors, Anchor Earth, Parinee Developers, Rosy Blue and Film Wave, will have a larger share in running the company, which will now be called Kochi IPL Cricket.
Source: Bharat Chronicle