<p>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.<br /><br /> 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.<br /><br /> "The IPL Kochi team has sent a letter to BCCI President Shashank Manohar withdrawing from the league.</p>
<p>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.<br /><br /> 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.<br /><br /> "The IPL Kochi team has sent a letter to BCCI President Shashank Manohar withdrawing from the league.</p>