The investor group of the franchisee, 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, two days before the expiry of the 30-day notice period (which ends today), issued to them by the Cricket Board to sort out their internal differences.
The IPL's Governing Council will meet in Nagpur tomorrow to discuss the issue and is likely to float a new tender for a replacement team.
"The IPL Kochi team has sent a letter to BCCI President Shashank Manohar withdrawing from the league.
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