Contracts of Punjab, Jaipur IPL teams terminated
NEW DELHI |
NEW DELHI (Reuters) - The franchise contracts of the Indian Premier League's Punjab and Jaipur teams have been terminated, the cricket board (BCCI) said on Sunday.
The decision followed a meeting of the IPL governing council in Mumbai to "decide on the breaches" committed by three teams, BCCI Secretary N Srinivasan said in a statement.
"It was unanimously decided that the franchise agreements with (Punjab owner) K.P.H. Dream Cricket Pvt. Ltd. and Jaipur IPL Cricket Pvt. Ltd. be terminated forthwith based on the legal opinions obtained by BCCI in the matters," he said.
"It was further unanimously decided to issue a notice to the unincorporated joint venture holding the Kochi franchise calling upon them to resolve all their disputes and form a joint venture company which will hold the IPL franchise rights."
The $4 billion Twenty20 league that began with eight teams in 2008 before adding two more for 2011 onwards has run into trouble of late.
Former commissioner Lalit Modi is battling charges of financial irregularities while an ownership row has been rumbling for some while.
(Reporting by Amlan Chakraborty in New Delhi; Editing by Peter Rutherford)
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