The Kochi Tuskers Kerala Indian Premiere League franchise has now been terminated by the Board of Cricket Council for India, as they were found to
The Kochi Tuskers Kerala Indian Premiere League franchise has now been terminated by the Board of Cricket Council for India, as they were found to be breaching with their terms of the agreement, said N Srinivasan, who was the board president for IPL in a press meet that happened in Mumbai.
The Kochi Tuskers Kerala has been terminated by the BCCI
This decision happened after the franchise was found to be incapable to furnish with a guarantee with a bank, back in the year 2011. The council did give some time for the Kochi Tuskers Kerala Franchise to submit with a bank guarantee before March 26th of 2011, yet, as they did not do so, the board made a decision to terminate the team from the upcoming seasons of the Indian Premier League.
Also, the BCCI felt that they have every other right to ban or terminate a contract if at all the concerned franchise were not able to meet up with the terms of the agreement.
Under the agreement terms that are made by the officials in the IPL. It has a fact that every other team franchise must be submitting their bank guarantee for every academic year. So, that all their payments are covered by the bank as they have given out their guarantee to them. The BCCI has even waited for more than six months of time. Yet, the Kochi owners were not found to be turning in with any kind of guarantee from a bank. The Kochi owners were kept on saying that they would get a bank guarantee soon. Furthermore, they are approached by the committee members.
IPL being the money rich game of cricket in India. The BCCI has been operating only with proper guarantees that are gathered from a bank. To stop any kind of black money involved with the franchise team owners.