CHENNAI: With a defiant Sahara group refusing to furnish the requisite bank guarantee, the BCCI on Saturday set to terminate Pune warriors from the IPL after a gathering of its almighty working committee.
The decision to terminate Pune, owned by Sahara, would depart the IPL an eight-team affair for the time being.
“Given Sahara’s continued position that it’d not deliver the bank guarantee, the operating Committee unanimously determined to terminate the Sahara Desert franchise agreement whereas taking whatever action was necessary to protect the BCCI position.
The Board said Sahara was due to furnish the guarantee of Rs 170.2 crore in March this year but has didn’t do thus despite 5 reminders.
“The BCCI working Committee today mentioned the situation concerning default by Sahara adventure Sports (Sahara) in not submitting the bank guarantee for the the Pune franchise of IPL for the 2014,” the statement read.
“As per terms of this franchise agreement this bank guarantee was due for delivery in March 2013, more than six months past.
“Over the last six months, the BCCIs advisors have written to Sahara on 5 separate occasions (in April, May, June, August and October) requesting that the bank guarantee be place in place, with the final letter being sent on October 8, 2013,” it added.
The Pune Warriors are on collision course with the BCCI after the Board encashed its bank guarantee for the 2013 season because of non-payment of franchise fee.
After that, Sahara declared its pull-out from the IPL even though it’s yet to formally convey this to the BCCI.
