BCCI allows Kochi to participate in IPL 4

The BCCI on Sunday allowed the squabbling Kochi franchisee to participate in the fourth edition of the Indian Premier League, ending the suspense over the fate of team. The IPL Governing council, which had given a third deadline to Kochi last week after the consortium's investors reached a last-minute agreement over their shareholding pattern, on Sunday approved their ownership structure and took it in its fold. "At their meeting today, 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," BCCI secretary and president-elect N Srinivasan said in a release.
The Governing Council's decision comes on the backdrop of the legal developments involving the BCCI and expelled IPL franchisees - Kings XI Punjab and Rajasthan Royals, the IPL Governing Council. Barely seven months after becoming the second most costliest team in the Indian Premier League, Kochi was on the verge of being thrown out of the event. But the owners of the beleaguered franchise made a last ditch attempt to save the outfit by reaching a compromise. Before the compromise, the investors of the franchise, which was bought for a staggering sum of Rs 1533.33 crore, had written to the BCCI informing them of their intention to withdraw from the IPL.