BCCI terminates Pune Warriors from IPL

NEW DELHI: The BCCI working committee on Saturday terminated franchise Sahara Pune Warriors from the Indian Premier League for not paying a bank guarantee of 174 crore rupees.

Owned by the Sahara Group, the Pune Warriors have been on collision course with the BCCI after the board encashed its bank guarantee due to non-payment of franchise fee.

The Sahara group announced its pull-out from the IPL after that even though that is yet to be formally conveyed to the BCCI.

All the governing council members of the IPL were invited for the meeting.

Sahara had been demanding the completion of the arbitration proceedings on the issue of franchise fee, which it feels should be lowered since the BCCI did not deliver on its promised number of IPL matches for the team.

The arbitration process has not yet started because of the differences between BCCI and Sahara over the judges to be appointed for it.

Pune Warriors, bought by Sahara for $370 million (approx Rs 1702 crore) in 2010, is the most expensive franchise on the IPL roster and its termination would cause substantial financial loss to the BCCI.

With this decision, the IPL is back to an eight-team affair.

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Shweta Pandey

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