Chennai: The Working Committee of the Board of Control for Cricket in India (BCCI) yesterday “unanimously” decided to “terminate” its contract with Indian Premier League (IPL) franchise Pune Warriors.
“The BCCI Working Committee discussed the situation regarding the default by Sahara Adventure Sports (“Sahara”) in not submitting the bank guarantee of the Pune franchise of IPL for the 2014 season,” BCCI said in a statement.
“As per the terms of its franchise agreement, this bank guarantee was due for delivery in March 2013, more than six months ago.
“Given Sahara’s continued position that it would not deliver the bank guarantee, the Working Committee unanimously determined to terminate the Sahara franchise agreement, while taking whatever action was necessary to protect the BCCI position.”
Sahara Parivar, owner of Pune Warriors, announced the pulling out of its team from the IPL in May this year after the BCCI decided to encash the bank guarantee of 2013 season owing to the non-payment of franchise fee.
Agencies
