Kerala's dream of being part of Indian Premier League (IPL) 4 is likely to shatter in the next two days.
Though the team managed to meets its 10-day deadline of submitting its reply to the Board of Control for Cricket's showcause notice (which expired on Wednesday), the BCCI, according to sources, may not take much note of it.
The reply was sent to BCCI president Shashank Manohar and will be studied by the board's legal team.
Investors in the Kochi IPL franchise though maintained that "negotiations were at an advanced stage", adding that they have sought "10 more days to reach a consensus".
"With time running out for IPL IV (to be held after the World Cup), the BCCI president could decide on Kochi's hopes in the next two days," a BCCI official said on Wednesday.
Since putting in $333 million (Rs 1500 crore approximately) last March to win the right to form a team, the investors in this franchise have been at loggerheads.
Distribution of shares and composition of the franchise's ownership continues to be a muddle and this could send Kochi's bid to be part of the T20 extravaganza for a six.
If Kochi is scrapped, BCCI is likely to call for fresh tenders for new teams.