Lal-Priyan drops IPL plans

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.

Mohanlal and Priyan who has managed to find partners to raise the 300 crores for participation bowed out of the race, after the discussions they had at Mumbai with other partners. '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 was behind it. Anyway it was quite unfortunate', said Priyan later while talking to a television channel.