The Indian cricket board BCCI on 5 December 2010 cleared the Kochi franchise to play in the Indian Premier League’s fourth season scheduled to bring on 8 April 2011 thereby ensuring that the number of teams in the IPL Twenty20 competition stands at eight. The decision was taken by IPL governing council at its meeting that was called scrutinise Kochi team owners’ tweaking of its shareholding pattern last week. The consortium that owns the Kochi team agreed to reduce the 26 per cent sweat equity given to the promoters Rendezvous Sports World Pvt Ltd to 10 per cent. The remaining 16 per cent distributed equally to firms Anchor Earth, Rosy Blue Diamond, Film Wave and Parinee Developers and Kerala-based businessman Vivek Venugopal.
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