Kochi IPL team:Franchisee agreement signed today

Putting curtains to all the confusions regarding IPL Kochi team, Lalit Modi, IPL commissioner signed the franchise deal, providing official status to the team. Mr Modi signed the deal in a private hotel at Bangalore. Vivek Venugopal signed the deal for Rendezvous consortium. Owners of the consortium, who won the bid for Kochi held discussions with BCCI officials at Mumbai on Friday.

The advocate board of BCCI went through the documents submitted by the sponsors of the Kochi team and gave green signal to proceed. BCCI officials then directed Rendezvous consortium sponsors to proceed to Bangalore and have the signature form Lalit Modi. All official procedures connected with the approval of Kochi team is likely to be over by Monday.

Rumors where ripe regarding the future of the Kochi team with a section of news carrying news that BCCI is likely to cancel the franchisee of IPL team as the team owners sold 25% shares for three persons without receiving any money. Owners of Rendezvous consortium then met BCCI officials at Mumbai to clear the air. A top Congress leader too intervened in the matter taking it up with Sharad Pawar, former BCCI president.