Miffed with BCCI, Pune Warriors quit battleground
22 May 2013 1:34 PM IST
In the news for all the wrong reasons in the past one week, IPL suffered another major blow with the Sahara Group-owned Pune Warriors India withdrawing from the event following BCCI’s alleged lackadaisical arbitration proceedings to lower franchisee fee and its decision to encash the team’s bank guarantee. Sahara released a detailed statement on Tuesday which also states the franchise will not renew its sponsorship of the Indian cricket team after the present contract expires in December 2013.
‘Disgusted’ by the BCCI’s attitude, Sahara stated: ‘We would not keep the IPL franchisee even if the entire franchisee fee is waved off. It is the firm and final decision of Sahara to withdraw from IPL.’
Sahara bought the franchise for Rs 1,700 crore in 2010 for 10 years, making PW the costliest team in IPL.
Sahara said it was peeved by BCCI’s failure to initiate arbitration proceedings to lower their franchise fee despite several reminders. ‘In 2010, Sahara had bid 1700 crore for IPL franchise on the basis of revenue calculation on 94 matches. It was tricky on part of BCCI to put the number in media as 94 for getting bigger amount. But we got 64 matches only,’ the release read. IPL chairman Rajiv Shukla said enchasing the bank guarantee were done as per rules. ‘Yes, Pune Warriors have pulled out. As per the rules, if a franchise fails to pay the fee then we encash its bank guarantee. However, we are extremely sad by the decision to pull out,’ Shukla said.
Incidentally, this is the second time Sahara have pulled the plug. It withdrew in 2012 owing to similar reasons but they bridged their differences with BCCI and returned to the fold. As per sources, Sahara wanted to sever ties with IPL at the start of the present season and requested BCCI not to touch the bank guarantee.
‘Disgusted’ by the BCCI’s attitude, Sahara stated: ‘We would not keep the IPL franchisee even if the entire franchisee fee is waved off. It is the firm and final decision of Sahara to withdraw from IPL.’
Sahara bought the franchise for Rs 1,700 crore in 2010 for 10 years, making PW the costliest team in IPL.
Sahara said it was peeved by BCCI’s failure to initiate arbitration proceedings to lower their franchise fee despite several reminders. ‘In 2010, Sahara had bid 1700 crore for IPL franchise on the basis of revenue calculation on 94 matches. It was tricky on part of BCCI to put the number in media as 94 for getting bigger amount. But we got 64 matches only,’ the release read. IPL chairman Rajiv Shukla said enchasing the bank guarantee were done as per rules. ‘Yes, Pune Warriors have pulled out. As per the rules, if a franchise fails to pay the fee then we encash its bank guarantee. However, we are extremely sad by the decision to pull out,’ Shukla said.
Incidentally, this is the second time Sahara have pulled the plug. It withdrew in 2012 owing to similar reasons but they bridged their differences with BCCI and returned to the fold. As per sources, Sahara wanted to sever ties with IPL at the start of the present season and requested BCCI not to touch the bank guarantee.
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