BCCI today terminated the contract of IPL franchise Kochi Tuskers Kerala for non-payment of bank guarantee, thus abruptly ending the controversial Kerala team's association with the cash-rich league after just one year.

The decision to terminate Kochi franchise was taken at the BCCI's Annual General Meeting here today, in which the new office bearers of the Board were also elected. "Because of the irremediable breach committed by the Kochi franchise, the BCCI has decided to encash the bank guarantee in their possession and also terminate the franchise," new BCCI President N Srinivasan told reporters after the AGM.

Kochi's termination means the 10-team tournament would be reduced to nine.