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Money spent

No. of players: 17 (7 Indian, 10 foreign)
Money spent: $7.79 million
Big-ticket signing: Mahela Jayawardene ($1.5 million)
Bargain buy: Brendon McCullum ($475,000)
Eyebrow-raiser: Ravindra Jadeja ($950,000)
Ones that got away: Gautam Gambhir (Kochi bid $2.3m), Yusuf Pathan (Kochi bid $2m), Uthappa (Kochi bid $2m)

Kochi have ten players capable of bowling four-over spells in a Twenty20 - four allrounders and six specialists - but their batting is thin, especially in terms of home talent. Their two Indian batsmen - VVS Laxman and Parthiv Patel - aren't deadly in the shortest format and at the moment the bulk of the runs will have to come from the foreign players. If that dependency doesn't change, it will hamper Kochi's chances of fielding the overseas bowlers and allrounders they have bid for. They were the first team to fill up their overseas slots.

Squad

Batsmen: Mahela Jayawardene ($1.5m), VVS Laxman ($400,000), Brad Hodge ($425,000), Owais Shah ($200,000), Michael Klinger ($75,000)
Bowlers: Sreesanth ($900,000), RP Singh ($500,000), Muttiah Muralitharan ($1.1m), Ramesh Powar ($180,000), Vinay Kumar ($475,000), Steve O'Keefe ($20,000)
Allrounders: Ravindra Jadeja ($950,000), Steven Smith ($200,000), Thisara Perera ($80,000), John Hastings ($20,000)
Wicketkeepers: Brendon McCullum ($475,000), Parthiv Patel ($290,000)

IPL has pruned its auction list for the next season

Only 12 players were retained by their teams ahead of the auction, with three of the eight existing franchises - Kings XI Punjab, Deccan Chargers and Kolkata - choosing to release all their players into the auction pool. As a result, those three franchises will have the entire complement of $9 million at their disposal for the auction, while the other teams will begin the auctions with purses reduced in accordance to the number of players they retained. Chennai and Mumbai Indians, who retained the maximum allowed four players each, will go into the auction with only $4.5 million to spend.

The season is set to go ahead with 10 teams and 74 matches as originally planned, since the BCCI is not likely to move the Supreme Court after it lost its High Court appeals against the stay orders granted to the termination of Punjab and Rajasthan.

Geoff Lawson to be Kochi coach

"I will be flying to India in the next few days to prepare for the player auction," Lawson told ESPNcricinfo. Mehul Shah, one of the owners of the Kochi franchise, confirmed the development.

Lawson had stated in October that a section of the Kochi owners had expressed strong interest in him for the coaching position. Unfortunately that deal could not be finalised as Kochi was suffering from a fractured ownership and appeared on the brink of being shunted out of the IPL. However, extensive parleys among the owners and various lifelines handed out by the BCCI led to a compromise formula being worked out to keep the $333.33 million franchise afloat.

Lawson said he was excited to be finally getting another opportunity of "creating a team" once again. "All is in order with the Kochi owners and everyone is keen and excited to be finally getting on with the job of creating a team. I will physically sign the contract when I get there [India], but in essence the owners have honoured the handshake deal we had before the minority owner problem occurred," he said.

Lawson's most high-profile coaching job was his 15-month stint in charge of the Pakistan team from July 2007. He helped them reach the final of the inaugural World Twenty20, but his partnership with inexperienced captain Shoaib Malik did not get to blossom as 2008 was a virtually barren year for Pakistan - Australia pulled out of a full tour, the Champions Trophy was postponed and Pakistan were left to play minnows like Bangladesh and Zimbabwe

Kochi (Cochin) IPL Team

The Stakeholders

Shailendra Gaikwad: Owns the Rendezvous group of hotels Sanjay Gaikwad: MD of UFO Moviez
Vivek Venugopal: of Elite Group of Kerala
Dilip Mehta: Rosy Blue Diamonds, a big jewellery outfit
Mehul Patel: of Anchor Earth, electrical goods manufacturer
Mukesh Patel: of ship-breaking company Shri Ram Vessels
Anand Shah: Real estate mogul

Shashi Tharoor has played a major role in Kerala getting an IPL team.

Update
Kerala IPL team name in One Week - Vivek Venugopal

It's been heard that Kerala Cricket Association Already took lease of Kochi Jawaharlal Nehru Stadium for the next 5 years. So the initial t20 matches of Kochi IPL team will be here.