Sahara owned Pune Warriors withdraws from IPL

May 21, 2013 18:47

Just in: The Sahara Group, which owns the Pune Warriors franchise, pulls out of the IPL. This means Pune Warriors have withdrawn from the IPL. More than a year after the Indian cricket Board agreed to resolve Sahara's IPL issues, including reduction the of Pune franchise fee by up to 25 per cent, through arbitration, no headway has been made. The BCCI now encashed the bank guarantee after the Sahara Group failed to pay the full franchise fee for this year -- a whopping Rs 1,702 crore. Pune Warriors is the costliest franchise in the IPL.

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