Kochi Tuskers willing to compromise on money if they are allowed to play IPL next year

Amidst the ongoing conciliation tussle regarding the terminated Kochi Tuskers, members of the BCCI met representatives of the franchise to reach a mutual agreement. The Kochi team was terminated on the grounds of “breaching terms of agreement” and the BCCI had guaranteed them Rs 153 crore in 2011 as compensation for not playing in the IPL in future. The arbitration panel which has been formed to put the issue to rest ruled in Kochi’s favour and ordered the BCCI to pay Rs 550 crore to the franchise.

However, the BCCI has been delaying the payment, which in the longer run is only causing the amount to spiral.  18 percent of the compound interest has led this amount to go up to almost over Rs 1,200 crore. The tussle couldn’t be solved by either Amitabh Choudhary, the board’s acting secretary, or Rahul Johri, the board’s CEO. A delay of each day means daily 75 lakh additional.

When Shashank Manohar was the president of BCCI, the contract of Kochi Tuskers was terminated for non-clearance of their bank guarantee in 2011. After much waiting, the owners of the franchise have offered the BCCI to “reinstate the team in the next IPL season” “It is a very difficult situation for us. The earlier president has put us in such a position from where there is only one way to come out and that is by mutually agreeing to a settlement,” said a senior BCCI official told DNA India. “Right now, there is complete lack of clarity for an outsider and for anybody within the BCCI as to who is calling the shots (within the board). This is not a matter which deals with day-to-day affairs but is a policy matter.”

The offer made by Kochi Tuskers to BCCI 

The owners have made it clear that if the franchise is permitted to play the 11th edition of the Indian Premier League, it will let go off the money the board owes them.

“We’ve given in writing to BCCI that we just want to play IPL. For that, we’ve ready to forego a huge chunk of money that BCCI has to pay us. Pay a little and allow us to play IPL is an option at which we’re working at,” said a Kochi co-owner on Wednesday.