Newly formed IPL franchise, Kochi, may fail to make their debut in the IPL 4 season as the BCCI has threatened to scrap the Kerala-based team after its owners failed to resolve their differences.
Sources told CNN-IBN that the new IPL franchise is likely to be scrapped by the BCCI due to an ownership row.
The Spat between franchise owners has reached an 'irreconcilable' position," sources said adding, "The four share-holders don't want Rendezvous to operate with 25 per cent sweat equity."
"Share-holders want Rendezvous to bring investments worth 25 per cent sweat equity."
Meanwhile, there are reports that former minister of state for External Affairs Shashi Tharoor has called for a meeting to resolve the crises surrounding the Kochi franchise. However, the warring group is unlikely to meet Tharoor to resolve the differences.
"It would be truly tragic if the team were disqualified because you all were unable to follow through on your commitments to each other and to the cricket-loving public. It is not too late to save the day, but it is perilously close to becoming unsalvageable. I urge you to act with wisdom and statesmanship at this time rather than allow all the effort and expense already made to go to waste," said concerned Tharoor.