Kochi Team cleared to play in IPL4 by BCCI - 8 teams confirm for 2011 IPL

After much controversy and almost rejected from IPL, Kochi franchise has cleared to play in IPL 4 from 2011 onwards after BCCI cleared the new ownership pattern submitted by the Kochi consortium last Sunday.

After a two hour long meeting with Kochi owners, BCCI said in release after the meeting,

"The IPL governing council confirmed that the Kochi franchisee had satisfactorily responded to the notice issued to them by the BCCI, and decided that the franchisee Kochi Cricket Pvt Ltd, would play in the IPL from 2011 onwards."

So it is now confirms that at least 8 team will be available from 2011 IPL, as decision on Rajasthn Royals and Kings XI Punjab, two teams terminated by BCCI, is still pending even though court has given relief to Rajasth for six weeks.

The investors in the Kochi consortium include corporate firms Anchor Earth, Parinee Developers, Anand Shyam Estates and Film Wave, which held 74% of the equity according to the original shareholding structure when they won the bid. The remaining 26% had been given to the family of Gaikwads, Shailendra, his brother Ravi and their parents plus a few others, all part of Rendezvous Sports.