Putting a full stop to the dreams of IPL fans in Kerala, the Priyadarshan-Mohanlal duo decided not to participate in the auction for new teams.
It was heard for quite some months that Mohanlal and Priyadarshan are planning to buy an Indian Premier League franchisee for Kerala, as the BCCI is planning to increase the number of teams participating in the League. Both had been in the background works for quite some time accumulating the needed money for becoming the prestigious owners of the glamour event. But as of now, it seems that the suddenly changed regulations for owning the IPL franchisee has come as a blow for the duo. Apart from the 300 crores that has to be submitted for participating in IPL auction, the new regulations asked for another 5000 crores as bank guarantee which must be provided by any of the nationalised banks.
Confirming the decision, Suresh Krishna, assistant director to Priyadarshan, said that the attempt to own an IPL team had been aborted. Mohanlal and Priyadarshan had managed to find partners and raised Rs. 300 crores for participation, but opted out of the race after their discussions with other partners at Mumbai.
“The information regarding the change in rules was given at a short notice and it was extremely difficult to source funds for the same. We do not know whether any kind of vested interest is behind it. Anyway, it was quite unfortunate,” Priyadarshan said.