Ahmedabad, Rajkot likely to replace Kochi in IPLBy IANS
Wednesday, November 17, 2010
NEW DELHI - Ahmedabad and Rajkot are the two likely cities to bid for a slot in the Indian Premier League (IPL) if the the Kochi franchise fails to agree on its ownership pattern before the Nov 27 deadline.
The IPL Governing Council (GC) at its meeting in Mumbai Wednesday decided to go ahead and conduct auction for the eighth team by December 15 if Kochi eventually pulls out or is thrown out.
The GC decided that the fourth edition will have eight teams.
“Though the GC is convinced that the Kochi owners won’t be able to sort out their differences on the ownership pattern, it can’t take a decision till the expiry of the Nov 27 deadline. The GC, however, is ready with its auction plan if Kochi goes out,” a top GC official told IANS.
“After the suspension of Kings XI Punjab and Rajasthan Royals, the IPL couldn’t have afforded to lose a third team as it would have posed more problems,” the source said.
The official said Ahmedabad and Rajkot are among the cities that would be interested in bidding for the eighth team.
“Ahmedabad and Rajkot will definitely take part in the auction,” said the official.
Reliance Anil Dhirubhai Ambani Group and Adani Industries have shown interest in Ahmedabad. Ambani lost in the first auction while the Adanis’ bid fell short of those by Pune and Kochi at the auction in Chennai for the two new teams.
There appears to be no end in sight to the logjam over the Kochi ownership pattern.
Anchor Earth, Parinee Developers, Rosy Blue and Film Wave hold 75 percent of the equity while the Gaekwad brothers, who own Rendezvous Sports World, own the remaining 25 percent stake as free equity for services rendered in successfully bidding for the franchise.
The consortium successfully bid for the Kochi franchise pledging a whopping $333 million.