Zee Media Bureau
New Delhi: The Board of Control for Cricket in India (BCCI) has terminated the contract of Indian Premier League (IPL) team Pune Warriors over payment issues.
This decision was taken in the Board’s meeting on Saturday in presence of all the governing council members of the IPL.
The BCCI, after reminding Sahara about the payment several times, has finally terminated the Pune franchise.
The Indian cricket board and Sahara Group, the owner of Pune Warriors had been on collision course after the Board encashed its bank guarantee due to non-payment of the franchise fee. After which the Sahara group announced its pull-out from the IPL but it was not officially conveyed to the BCCI.
Pune, bought by Sahara for USD 370 million (approx Rs 1702 crore) in 2010, is the most expensive franchise on the IPL roster and its termination would cause a substantial financial loss to the BCCI.
With PTI inputs