Sahara India – owner of the Pune Warriors franchise – have pulled out of the IPL over financial differences with the BCCI. The decision comes three years after it bought the franchise for $370 million, the highest price paid for any of the IPL franchises.
In a lengthy statement, Sahara detailed its dispute with the BCCI over the lowering of franchise fees, which it had sought because the IPL reduced its annual matches from 94 to 74.
Pune Warriors finished eighth in the sixth season of the IPL, winning four out of the 16 matches they played.
This is the second time Sahara have pulled out of the IPL; they quit on the day of the 2012 auction and withdrew from sponsorship of the Indian team.
This time, though, Sahara will continue its sponsorship of the Indian team until the end of December 2013, when their present contract expires. “We share an excellent relationship with the players and will not want such dedicated and good human beings who serve the country so committed to get harmed financially due to unsporting attitude of BCCI. So we have given time to BCCI to get the new sponsorship in place from January 2014.”
