The BCCI working committee on Saturday terminated its contract with Indian Premier League franchise Pune Warriors for defaulting on its payments to the Board. (Full statement)
Owned by the Sahara Group, Pune Warriors have been on a collision course with the BCCI after the Board encashed its bank guarantee due to non-payment of the franchise fee. The Sahara group announced its pull-out from the IPL after that, though the decision was yet to be formally conveyed to the BCCI, which wanted the team to furnish a bank guarantee of Rs 170.2 crore to remain part of the league next year.
The BCCI, after reportedly reminding Sahara about the payment several times, has terminated the franchise from the IPL. All the governing council members of the IPL were invited for Saturday's meeting where the Board issued a 30-day termination notice to Pune Warriors.