Real IPL winners

Shailendra (left) and Satyajit Gaikwad, the stakeholders in the Kochi Indian Premier League Team

Yesterday, their entry into IPL IV was made official after BCCI's lawyers gave the nod to the Board upon reviewing the consortium's new structure. It may be recalled that with Rendezvous Sports World Pvt Ltd (RSWPL) relenting to dilute their 25 per cent free equity, the rest of the consortium had refused to register under the Companies Act.

"It was a tough task to get Rendezvous to give up their sweat equity. Finally, things have settled down and the team is taking shape. All of us wanted to work together, nobody wanted to lose the team, but we (investors) were adamant about a change in structure," one of the investors told MiD DAY.

"Now, everyone has got what they wanted. We got the team because of the Gaikwad family. They helped us while bidding. The negotiations were needed for better business," he added. Since September, multiple shareholding structures have been discussed with none of them proving acceptable to the owners.

RSWPL's holding of the 25 per cent free equity in the $333m franchise sent shockwaves through India's political scenario resulting in mentor Shashi Tharoor's resignation from the Union Ministry. It was, all along, the incompatible bone of contention for the franchise.

Though the Gaikwad family kept urging they had solved the issues, the BCCI sent out a stern warning by initiating proceedings for a fresh tender during IPL's Governing Council (GC) meeting on November 17.

Meanwhile....

While IPL GC decided on Kochi's fate,u00a0 Sachin Tendulkar offered some tips to son Arjun (with gloves) and other young cricketers at the Bandra Kurla Complex.

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