Sachin=GOD Posted May 21, 2013 Posted May 21, 2013 Pune Warriors fail to pay franchisee fee, BCCI encashes guarantee New Delhi: 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 on Tuesday. Sahara bought Pune franchise for a record Rs 1702 crore for 10 years. But they currently have a 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 http://ibnlive.in.com/news/pune-warriors-fail-to-pay-franchisee-fee-bcci-encashes-guarantee/393082-78.html
velu Posted May 21, 2013 Posted May 21, 2013 kanju franchise saurav , kataria saab and yoda-esque :hehe:
I6MTW Posted May 21, 2013 Posted May 21, 2013 Now we can hope for a kerala, gujarat, or goa franchise.
I6MTW Posted May 21, 2013 Posted May 21, 2013 We will take BCCI to court :weights: and all you can do is chew your pacifier.
Sachin=GOD Posted May 21, 2013 Author Posted May 21, 2013 We will take BCCI to court :weights: Roy Sahab izz already in court.......................for different reasons of course :hahaha:
saneindian Posted May 21, 2013 Posted May 21, 2013 Not surprising. Given Sahara's troubles, PWI will be history soon.Good for the league.
Magneto Posted May 21, 2013 Posted May 21, 2013 and all you can do is chew your pacifier. Patience kiddo patience.
Magneto Posted May 21, 2013 Posted May 21, 2013 Roy Sahab izz already in court.......................for different reasons of course :hahaha: Just another court case :dontknow:
skindia Posted May 21, 2013 Posted May 21, 2013 PWI will be there otherwise sahara's pitch would be useless
Magneto Posted May 21, 2013 Posted May 21, 2013 again sreenivasan targetting uthappa's team Srini doesn't like Uthappa? :winky: ()
Sachin=GOD Posted May 21, 2013 Author Posted May 21, 2013 again sreenivasan targetting uthappa's team :cantstop:
I6MTW Posted May 21, 2013 Posted May 21, 2013 again sreenivasan targetting uthappa's team Probably because he doesn't want him to play so he can cook uthappam for him?
vvvslaxman Posted May 21, 2013 Posted May 21, 2013 This franchise is worst franchise in IPL history lol
StriKe Posted May 21, 2013 Posted May 21, 2013 Press Trust of India @PTI_News 1m Pune Warriors India withdraws from Indian Premier League. :hmmm:
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