Kochi, Sunday 21 March 2010: Minister of State for External Affairs Shashi Tharoor today made it clear that he has no stake in the Kochi franchise of the Indian Premier League and that his role was confined to encouraging the consortium that eventually bagged the team.

Tharoor said he does not have the required resources or time to get involved in the bidding, which was a business-oriented decision taken by business-minded people.

“All I did on my part was to offer encouragement, blessings and expert advise when required to the bidders.

Beyond that, I had no role to play. It’s a group of business people and I understand it’s a business decision,” Tharoor said. Tharoor’s clarifications came after little known Rendezvous Sports World Limited bagged the Kochi franchise for a staggering USD 333.33 million for the next 10 years.