Mumbai, Sept 19: BCCI suspended Kochi Tuskers Kerala (KTK) team from IPL over non-payment of dues.
There were reports suggesting that KTK may face temporary suspension from IPL if they fail to respond to a second termination notice by the BCCI for not producing bank guarantees despite repeated reminders from IPL chiefs. However, the latest reports confirmed the suspension of KTK.
Sources say that the new franchise of Indian Premier League constantly (IPL), KTK, snubbed the repeated reminders from IPL officials about the unpaid payments.
Reports claim that the team has to renew its bank guarantee every year, which it has not renewed. KTK was bought for Rs.1,550 crore and the syndicate has to pay a bank guarantee of Rs.156 crore annually for the next 10 years.
Meanwhile, KTK team officials earlier this week rubbished all the reports about non-payment and said that "We don"t owe one single paisa to the board. On the contrary, the BCCI owes us the money. We are yet to receive the last installment of the television revenue that is due to us".
However, there are no comments from KTK team yet, post the suspension news.