Buying the Kochi Indian Premier League [ Images ] (IPL) team was more about passion for the game than actual business, say the owners.
Rendezvous Sports World Limited won the bid for the Kochi franchise for a whooping US $333 million (Rs 1533 crores), sending the state of Kerala [ Images ] on cloud nine.
The Kochi IPL team consortium includes Rendezvous Sports, Anchor Earth, Film Waves, Parinee Developers and the Elite and Choliyal group.
It just happened over a casual meeting between friends; they decided why not buy an IPL team. The rest, as they say, will now be history.
But the purchase was just the start. The franchise is now running against time to get everything arranged. Work on an under-construction stadium in Kerala has speeded up since the takeover, while the owners are also burning the midnight oil to identify players they hope to sign up during the auction later this year.