Will the Indian Premier League (IPL) be back to 10 teams? Well, that
could be a matter for the courts to decide, but the Board of Control for
Cricket in India is getting ready for that eventuality. At its working
committee meeting in Chennai on Saturday, the BCCI decided to auction a
new team while keeping a window open for the likely return of the Deccan
Chargers.
Having terminated the contract of the Hyderabad franchise, the BCCI has decided to issue tenders for a new team in its place. However, with Chargers taking recourse to legal assistance, the board concluded that it should wait for the verdict of the Bombay High Court which is hearing the Chargers’ appeal.
The case will come up for hearing on Monday. The BCCI has refrained from commenting on the matter, saying that it is subjudice. However, they are believed to have accepted a Rs 33 crore demand draft from the Chargers towards player payment, while agreeing to consider an SPV (Special Purpose Vehicle) formed by 38 banks which have lent money to the Chargers. The banks have offered to run the team through the SPV.
“We will definitely add a new team in the sixth edition of the IPL from among the waiting franchises. If DC is not there, we will go ahead with nine teams. In case we are forced to include them, it would be a 10-team affair,” a board official told reporters in Chennai.
The official confirmed Chargers’ offer to run the team through SPV for one year but was not confident of its smooth functioning. “What is the guarantee that they will be able to do it. We have never witnessed such arrangements before and will not want to take any chance whatsoever,” the official said.
According to the official, eight cities will be in fray for the new team when the bidding takes place. The winning bidder will have to accommodate the Deccan players for one year if the franchise is ultimately scrapped from the IPL.
Meanwhile, the BCCI received a notice invoking arbitration from the franchise, stating that it had not committed any breaches. The notice has said that even if breaches were committed, the board should not terminate the franchise till Yes Bank Ltd furnishes sufficient finance to cure the violations.
Having terminated the contract of the Hyderabad franchise, the BCCI has decided to issue tenders for a new team in its place. However, with Chargers taking recourse to legal assistance, the board concluded that it should wait for the verdict of the Bombay High Court which is hearing the Chargers’ appeal.
The case will come up for hearing on Monday. The BCCI has refrained from commenting on the matter, saying that it is subjudice. However, they are believed to have accepted a Rs 33 crore demand draft from the Chargers towards player payment, while agreeing to consider an SPV (Special Purpose Vehicle) formed by 38 banks which have lent money to the Chargers. The banks have offered to run the team through the SPV.
“We will definitely add a new team in the sixth edition of the IPL from among the waiting franchises. If DC is not there, we will go ahead with nine teams. In case we are forced to include them, it would be a 10-team affair,” a board official told reporters in Chennai.
The official confirmed Chargers’ offer to run the team through SPV for one year but was not confident of its smooth functioning. “What is the guarantee that they will be able to do it. We have never witnessed such arrangements before and will not want to take any chance whatsoever,” the official said.
According to the official, eight cities will be in fray for the new team when the bidding takes place. The winning bidder will have to accommodate the Deccan players for one year if the franchise is ultimately scrapped from the IPL.
Meanwhile, the BCCI received a notice invoking arbitration from the franchise, stating that it had not committed any breaches. The notice has said that even if breaches were committed, the board should not terminate the franchise till Yes Bank Ltd furnishes sufficient finance to cure the violations.
0 comments:
Post a Comment