Pune Warriors India withdraws from IPL

Pune Warriors India has decided to end it’s association with Indian Premier League after just three years in running. Pune Warriors India, owned by Sahara group, has taken the decision following BCCI’s decision to encash back guarantee.

A senior BCCI official told PTI on Tuesday: “Yes, the BCCI has initiated procedure to encash the bank guarantee that has been deposited in order to procure Pune Warriors’ franchise fee for the current year.”

“In January this year, Sahara paid around 20 per cent of the year franchisee fee which is approximately Rs 170 crore. The BCCI was told that they will pay the remaining amount by May 19 but they failed. The IPL governing council then decided to encash the bank guarantee.” he added.

Pune Warriors’ performance has been abysmal in the three seasons of IPL that they have participated in and remained in the wooden spoon of the league.

More to follow…