Wednesday 22 May 2013

Sahara Withdraws from IPL, National Team sponsorship to stay

Following the spot fixing controversy last week, Pune Warrior (owned by Sahara India group) pulls out of the IPL completely.
Sahara India group took this decision following the Board of Control for Cricket in India (BCCI) insistence on encashing Sahara's bank guarantee after it failed to pay the franchise fee for this year's edition of the IPL.

Sahara had bought the franchise for a huge Rs 1,700 crore back for 10 years in 2010 and had later asked that the franchisee fee be trimmed as the number of matches had come down from the 94 promised to 64 only.
While announcing its withdrawal from the IPL, it said that it was disgusted by the BCCI's attitude towards it and will not rejoin the league even if the entire franchise fee was waived.
In a statement the company said, "It is a firm and final decision of Sahara to withdraw from IPL."
"In 2010, Sahara had bid Rs 1,700 crore for the IPL franchise on the basis of revenue calculation on 94 matches. It was tricky on the part of BCCI to put the number in media as 94 matches for getting bigger amount. But we got 64 matches only".
Sahara claimed that the BCCI turned a deaf ear to its pleadings for arbitration and reducing the franchise fee.
However Sahara will continue to sponsor the Indian cricket team. "There is a very strong urge in us to withdraw from the Indian Cricket Team Sponsorship from today only. But, interest of the players will suffer if we do so."
"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," the Group said.
"So we have given time to BCCI to get the new sponsorship in place from January 2014, as we will continue the national team's sponsorship only up to December 2013 that's the expiry date of the present agreement."
The group, however, assured the players and the stakeholders that their dues would be cleared in time.

Source:
http://cablequest.org/news/national-news/item/2511-sahara-withdraws-from-ipl,-national-team-sponsorship-to-stay.htmlSource: http://cablequest.org/news/national-news/item/2511-sahara-withdraws-from-ipl,-national-team-sponsorship-to-stay.html

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