TIL Desk Sports/ The Board of Control for Cricket in India is set to pay a huge compensation of more than Rs 800 crore to disbanded Indian Premier League 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 Governing Council meeting and we will now place the matter before the general body. Let them take a call but obviously some negotiations are needed,” IPL chairman Rajiv Shukla said after the meeting on Tuesday.
In 2015, the owners of the Kochi Tuskers franchise 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 percent 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.
