BCCI set to pay huge compensation to Kochi Tuskers Kerala

Agencies
October 24, 2017

New Delhi, Oct 24: The BCCI is set to pay a huge compensation of more than Rs 800 crore to disbanded IPL franchise Kochi Tuskers Kerala for terminating their contract in 2011.

"Kochi Tuskers has demanded Rs 850 crore as compensation. Today we discussed the matter at IPL GC meeting and we will now place the matter before general body. Let them take a call but obviously some negotiations are needed," IPL chairman Rajiv Shukla said after the meeting.

Kochi Tuskers owners in 2015 had won an arbitration challenging BCCI decision to encash bank guarantee citing breach of contractual agreement.

The RC Lahoti headed panel had directed BCCI to pay Rs 550 crore as compensation with 18 per cent annual penalty on failing to do so.

For the past two years, BCCI was adamant in neither paying compensation nor taking back the franchise in the IPL.

"We have to pay Kochi compensation. All legal options have been exhausted. Normally when arbitration decision goes against you, it will be stupid to move Supreme Court appealing against it. We have no option but question is how much," an influential IPL GC member told PTI after coming out of the meeting.

The decision to terminate Kochi contract was taken by then BCCI President Shashank Manohar citing breach of franchise agreement, something majority of BCCI officials were against.

"It was one man's obstinacy that is now costing us a bomb. Had Shashank not taken that decision, we could have worked our way out.

"In fact, before Kochi went to arbitration, they had asked for a compensation of Rs 300 crore. Even then our officials showed arrogance and now we will be forced to shell out more than double," the angry official further added.

The BCCI will be trying to negotiate and bring down the compensation to an optimum level.

"Even then we will not be able to bring down to less than Rs 600 crore, I feel," said the official, who had been associated with the case.

Meanwhile in another development, the BCCI will be earning a token amount of Rs 5 lakh from Chennai Super Kings (CSK) as a part of 5 percent earnings from total valuation of a franchise that transfers its ownership.

Chennai Super Kings is now under the wings of Chennai Super Kings Company Limited (CSKCL) with India Cements transferring its shares to the newly formed limited company.

As per IPL rules, any transfer of ownership will mean that BCCI will get 5 per cent of the total valuation.

Accordingly, BCCI is expected to get Rs 5 lakh and senior officials are not amused.

"This is bizarre but true. We will get Rs 5 lakh but we are trying to take legal opinion," the official said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 12,2020

Miami, Mar 12: The NBA has suspended its season "until further notice" after a Utah Jazz player tested positive Wednesday for the coronavirus, a move that came only hours after the majority of the league's owners were leaning toward playing games without fans in arenas.

Now there will be no games at all, at least for the time being. A person with knowledge of the situation said the Jazz player who tested positive was center Rudy Gobert. The person spoke to The Associated Press on condition of anonymity because neither the league nor the team confirmed the test.

"The NBA is suspending game play following the conclusion of tonight's schedule of games until further notice,'' the league said in a statement sent shortly after 9:30 p.m. EDT. "The NBA will use this hiatus to determine next steps for moving forward in regard to the coronavirus pandemic.''

The test result, the NBA said, was reported shortly before the scheduled tip-off time for the Utah at Oklahoma City game on Wednesday night was called off. Players were on the floor for warmups and tip-off was moments away when they were told to return to their locker rooms. About 30 minutes later, fans were told the game was postponed ``due to unforeseen circumstances."

Shutdown for two weeks?

Those circumstances were the league's worst-case scenario for now -- a player testing positive. A second person who spoke to AP on condition of anonymity said the league expects the shutdown to last a minimum of two weeks, but cautioned that time-frame is very fluid.

"It's a very serious time right now," Miami Heat coach Erik Spoelstra said. "I think the league moved appropriately and prudently and we'll all just have to monitor the situation and see where it goes from here."

The Jazz released a statement saying a player -- they did not identify Gobert -- tested negative earlier Wednesday for flu, strep throat and an upper respiratory infection. That player's symptoms diminished as the day went along, but the decision was made to test for COVID-19 anyway. That test came back with a preliminary positive result.

"The individual is currently in the care of health officials in Oklahoma City," the Jazz said, adding that updates would come as appropriate.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 12,2020

New Delhi, Jan 12: Flamboyant India all-rounder Hardik Pandya was on Saturday pulled out of the India A team's tour of New Zealand after he failed mandatory fitness tests in Mumbai.

The selectors had picked him in the squad without testing him in the Ranji games.

Tamil Nadu captain Vijay Shankar has been drafted into the India A team and he has already boarded the flight to New Zealand where they will play two 50-over warm-up games, three List A games and two four-day 'Tests' against the home A team.

It has been learnt that Pandya failed a couple of mandatory fitness tests and his scores were well below the permissible range suggesting that he is far from being fit for international cricket. In this situation, pulling him out of the India A squad was expected.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 10,2020

Karachi, Jan 10: Former Pakistan batsman and current U-19 head coach Ejaz Ahmed feels that his side can beat defending champions and arch-rivals India in the forthcoming ICC Youth World Cup beginning in South Africa on January 17.

"India has a very good cricket system and it is organized but I know that we have more passion than them when we play against each other and that is how we also beat them in the semi-finals of the recent Asian Emerging Nations Cup," Ejaz said.

Ejaz, who has played 60 Test and 250 ODIs, was head coach of the Pakistan Emerging side which beat India before eventually winning the title in Bangladesh last year.

"Even in the past, we beat India because of our greater passion and this time also I know the passion of our players will prevail over them although they have a very strong outfit," he added.

The 51-year-old Ejaz, however, said at the end of the day it would be all about how a team plays on that particular day.

"It is the same in the World Cup it does not matter which team is number one or defending champions what will matter is how a team plays on a given day. I personally feel our team is well balanced," he said.

Ejaz did not believe that India would get advantage of having played a four-nation tournament with South Africa, New Zealand and Zimbabwe in South Africa before the World Cup.

"Our players have also trained hard in Lahore and we have played around 11 matches. We will also reach South Africa nine days before the World Cup and we have some practice games and I think our preparations are also very good for the tournament," he said.

The former batsman also said the absence of fast bowler Naseem Shah will not impact much on the team's performance. Naseem was withdrawn from the Pakistan U-19 squad after he played for the senior team in three Test matches against Australia and Sri Lanka.

"Look there was no controversy at all. The way we now see things is that you can't expect a MBA to go and take BA exams. That is how we look at Naseem Shah, he has made the grade for Pakistan and now he should be performing for the senior team," said the head coach.

"We have a couple of exciting young talent in the ranks. I expect Rohail and Haider to play for the senior team in two to three year's time, they are that good."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.