The Board of Control for Cricket in India (BCCI) and former Indian Premier League (IPL) franchise Rajasthan Royals, have arrived at an agreement to settle their dispute over the latter's termination through arbitration. The two parties have informed the Bombay High Court of their decision on Tuesday, Nov 16th. The Royals had filed a petition with the High Court challenging the BCCI's decision to terminate the franchise.
The BCCI and the franchise have agreed on Justice BN Srikrishna as the only arbitrator and will make an appearance before the High Court on Nov 18 for instructions on how to move forward with the process. "This is exactly what we wanted," a source in Rajasthan Royals with knowledge of the situation told ESPNcricinfo. "It is good for us because arbitration is a faster route (than the courts)."
The IPL franchise agreement clearly mentions the provision of arbitration in the event of a dispute that cannot be settled amicably. Clause 21.1 of the agreement states that "such dispute shall be submitted to arbitration and conclusively resolved by a single arbitrator appointed by mutual consent."
The BCCI came to its decision on October 10 this year, to end the franchise's IPL affiliation on charges of changing the shareholding and ownership set-up without informing the board. The Kings XI Punjab franchise was also terminated for th same reason on the same day and they too have filed a case in the Bombay High Court, challenging that decision.