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Arbitrator asks BCCI to pay 550 CRORE to Kochi Tuskers!

Last updated on: July 08, 2015 17:38 IST

BCCIThe Board of Control for Cricket in India on Wednesday indicated it will appeal against former Chief Justice of India R C Lahoti's report that went in favour of Kochi Tuskers, the erstwhile Indian Premier League franchise whose contract was terminated by the Board in 2011 because of an alleged breach.

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"We have got arbitrator Lahoti's report. The majority of the members are of the opinion of appealing against arbitrator's report. We are seeking legal opinion," IPL chairman Rajeev Shukla said, after a Governing Council meeting in New Delhi.

The BCCI has been asked to pay Rs 550 crore to IPL franchise Kochi Tuskers after an arbitration ruled in favour of the team recently. Kochi though, it is learned, is not interested in the money anymore and want its team fielded in the next IPL season.

Back in 2011, the BCCI had decided to encash the bank guarantee given by Kochi Tuskers and terminated the franchise's IPL contract. The matter then went for arbitration to Lahoti.

As far as the controversy over valuation of Chennai Super Kings is concerned, the matter has been referred to the BCCI's working committee, Shukla claimed.

"CSK valuation matter has been referred to Board's Working Committee. During the last Working Committee meeting in Kolkata the Committee sought legal opinion. The Working Committee, after getting legal opinion, will refer to GC and further decision will be taken," he said.

No decision has been taken on the fate of the Champions League T20 tournament as it can only be taken in the presence of Cricket South Africa and Cricket Australia, he added.

"No discussion on CLT20 scrapping. Any decision on CLT20 can only be taken at CLT20 Governing Council, which comprises CSA, CA. It will be taken at that forum."

The Champions League T20 tournament, which is hosted in September every year, has never been able to find too many takers, be it sponsorship or viewership.

On reports of Royal Challengers Bangalore being bought over by Jindal Steel Works (JSW) Group, Shukla said the matter will have to be placed in front of the IPL Governing Council for approval.

"Any such takeover or buying of stakes should be referred to the Governing Council for its approval first. Once any such proposal placed before GC a call will be taken," he said.

On player retention policy, he said, "The Governing Council is of the opinion that from 2017 the number of capped Indian players will decrease from four to two in each IPL side and foreign capped players at two. Also there will be three uncapped players. But total will not be more than four.

"This is to make a level playing field among the franchises. However, the 2016 edition will be played as per old rules."

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