The fourth edition of IPL will have a new franchise in it. According to reports the team would be from Northern India. The news means that Kochi fate is sealed now. IPL management representative said that the differences in Kochi franchises are very likely to stay until the deadline of 27th November. He also confirmed that a tender will be issued for new franchise on 28 November, a day after the deadline expires.
The IPL official stated "Ten to fifteen days will be given to the bidders after the tender notice is issued, The announcement of the winner of the bid will come after an open financial bid, so any differences do not emerge later."
The first player auction would probably take place in first week of January, after nearly two months postponement from the original date of auction in November. The official said that IPL management has unanimously settled on the location of the new franchise. This would even out the geographical imbalance of IPL which had only two teams from North after Rajasthan Royals and kings XI Punjab were sacked.
There are two law suits in Bombay High Court filed against BCCI filed by Rajasthan and Punjab, this can further de track IPLs regular plans, even though Rajasthan and BCCI seem to have scripted a negotiation to settle their differences.
A code of conduct called "IPL Player Regulations" was sent to franchises in the beginning of this week. The list contained regulations for eight franchises, including the new Pune and Kochi Franchises. It will probably be updated again to accommodate the changes that may be about to take place. To ensure a unified trouble free league, IPL bosses are meeting up with franchise owners and updating them on the plans to be carried out in IPL 4. It is a move to take franchises into confidence and remove the air of ambiguity that has been circling around IPL for the last six months.
It all began with the Kochi franchise's 'sweat equity' dispute. An Indian minister linked with the franchise had to resign over the issue, and was later legally challenged for alleged financial frauds along with the former IPL commissioner Lalit Modi. This was followed by a rather shocking termination of Rajasthan Royals and Kings XI Punjab Franchise, and is continuing with the ongoing lack of ability of Kochi franchise to straighten out their problems.

Tags:- Kings XI Punjab   Kochi   Lalit Modi   Pune   Rajasthan Royals