Kochi IPL team likely to throw in the towel

MUMBAI: The Kochi IPL franchise , co-owned by a host of investors from various backgrounds, has thrown in the towel after failing to resolve internal differences, it is learnt. The buzz is that franchise owners themselves are willing to withdraw after having come to the conclusion that they cannot work together.

The BCCI is yet to send the franchise a notice, serving a stipulated time period for them to act. However, sources said the board may not have to even send a notice under the circumstances.

If that happens, IPL 4 in 2011 will be played between nine teams. The possibility of such a thing happening rests on how Sunday's governing council meeting, called on an emergency basis, goes.

BCCI president Shashank Manohar is rushing to Mumbai for the meeting despite being pressed for time. Manohar is scheduled to fly to Dubai on Sunday for an ICC meeting but is keen to sort out the IPL mess before he leaves.

"If Kochi goes, there won't be another team in its place. The rule says that the next highest bidder cannot be automatically awarded the franchise and therefore the Videocon-led consortium will not be allowed. The rumours doing the rounds of Videocon's entry are false," a top board official told TOI.