BCCI set to pay huge compensation to Kochi Tuskers

The decision to terminate the franchise’s contract was taken by former BCCI president Shashank Manohar citing breach of agreement.

Kochi Tuskers Kerala played in the fourth edition of the IPL, but they managed to win only six games (out of 14), finishing eighth.   -  R.V. MOORTHY

 

Kochi Tuskers Kerala stands to gain a whopping sum of Rs 800 crore as compensation from the Board of Control for Cricket in India (BCCI).

The BCCI had terminated the services of Kochi Tuskers in 2011 for breach of franchises agreement as per the rules of the Indian Premier League (IPL). Kochi Tuskers had challenged the BCCI decision to encash bank guarantee.

Read: Kochi Tuskers Kerala owners ready for an out-of-court settlement

According to a Board official, a committee of BCCI officials had reported back that the negotiation results with Kochi Tuskers. “Yes Kochi Tuskers is insisting on Rs 850 crore as compensation. But the IPL Governing Council can’t take any decision regarding this matter. It will have to meet the approval of the General Body. I feel there is room for further negotiations in this matter,” the official said.

Following its termination from the IPL, the Kochi Tuskers franchise had won the case through arbitration in 2015. The amount awarded to Kochi Tuskers then was Rs 550 crore with the arbitrator setting 18 per cent annual penalty in case the BCCI did not meet the demands of Kochi Tuskers.

Also read: Kochi Tuskers wins arbitration proceedings against BCCI

On the issue of Chennai Super Kings and Rajasthan Royals, back in the IPL fold after a two-year ban, wanting to retain most of their players the decision would be taken after a meeting of the franchises next month.

 

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