Kochi Tuskers franchise win lawsuit against BCCI
Kochi Tuskers featured in just one IPL season, in 2011, and exited the multi-million dollar league owing to financial issues. In a recent development, however, the franchise owners have won a lawsuit against BCCI for alleged contract breach and may receive up to Rs 1,080 crores as compensation.
Tuskers lost 8 of their 14 games in their only season and were terminated after failing to pay a bank guarantee worth 10% of the total franchise fee to BCCI. The Kochi owners, however, accused BCCI of a contract breach and took the matter to court seeking damages due to the termination.
The BCCI discussed filing an appeal or seeking an out-of-court settlement with owners of Kochi Tuskers during their special general meeting on Sunday. The BCCI is in the news for monetary disputes with the ICC and a financial dispute with a former franchise could impact its image further.