Press Esc to close
Tuesday 23 September 2014
News updated at 7:47 PM IST
Weather
Max: 30.8°C
Min : 21.5°C
In Bangalore
Sunny day

Warriors' fails to pay franchisee fee, BCCI encashes guarantee

New Delhi, May 21, 2013 (PTI)
Pune Warriors team celebrates thier victroy against Delhi Daredevils during the IPL6 match played in Pune on Sunday. PTI Photo

The troubles regarding Indian Premier League doesn't seem to end as Sahara Pune Warriors failed to pay the full franchise fee for the current year which resulted in BCCI encashing the bank guarantee casting a shadow on its future in the cash-rich league in coming years.

"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," a senior BCCI official told PTI today.

Sahara bought Pune franchise for a record Rs 1702 crore for 10 years. But they currently have dispute regarding the reduction of the franchise fee as initially there were 94 matches which was later reduced to 74 matches. The issue hasn't been resolved yet.


"In January this year, Sahara paid around 20 percent 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."

However BCCI's decision to go ahead and encash the bank guarantee does raise a question-mark whether the franchise will be a part of the seventh edition of Indian Premier League next year.
"It is too early to say what will happen next year but yes things are indeed looking ominous," another senior BCCI official informed.

When BCCI treasurer Ajay Shirke was contacted in order to confirm the amount of bank guarantee, he refused to divulge any information.

This is not the first time that BCCI has encashed bank guarantees after franchises failed to cough up the fees. Kochi Tuskers Kerala and Deccan Chargers were disbanded from IPL after they failed to pay the required fees.

Pune Warriors' performance has not been good in the three seasons of IPL that they have taken part as they remained in the bottom rung.

Go to Top

Photo Gallery
Shoaib Akhtar rides bike during a Champions League Twenty20 match in Bengaluru ...

Shoaib Akhtar rides bike during a Champions League Twenty20 match in Bengaluru ...

Sania Mirza after a practice session at the 17th Asian Games in Incheon, South Korea  ...

Sania Mirza after a practice session at the 17th Asian Games in Incheon, South Korea ...

Home Minister Rajnath Singh drives a motorcycle at Thalkobad CRPF camp ...

Home Minister Rajnath Singh drives a motorcycle at Thalkobad CRPF camp ...

FC Goa’s coach Zico and marquee player Robert Pires along with Nita Ambani ...

FC Goa’s coach Zico and marquee player Robert Pires along with Nita Ambani ...

Ambassadors of Kochi International Half Marathon, cricketer Harbhajan Singh and actor Mohanlal  ...

Ambassadors of Kochi International Half Marathon, cricketer Harbhajan Singh and actor Mohanlal ...

A vehicle  to campaign for Maharashtra Chief Minister Prithviraj Chavan ahead of  elactions ...

A vehicle to campaign for Maharashtra Chief Minister Prithviraj Chavan ahead of elactions ...

An irate White Tiger cramps a student after he fell in its enclosure at the Delhi Zoo ...

An irate White Tiger cramps a student after he fell in its enclosure at the Delhi Zoo ...

A woman carries her baby near her damaged house after floodwater receded ...

A woman carries her baby near her damaged house after floodwater receded ...

Flood victims remov debris from their collapsed house after floodwater recedes ...

Flood victims remov debris from their collapsed house after floodwater recedes ...

Soha Ali Khan during a promotional of her upcoming film 'Chaarfutiya Chhokare' in Kolkata ...

Soha Ali Khan during a promotional of her upcoming film 'Chaarfutiya Chhokare' in Kolkata ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523