The Sahara India Group pulled its team, Pune Warriors India, out of the Indian Premier League following the Board of Control for Cricket in India’s decision to encash the bank guarantee after they failed to pay the franchisee fee.
Sahara, which bought the franchise for Rs 1700 crore in 2010, said it was "disgusted" by the BCCI's attitude towards it and will not rejoin the league even if the entire franchise fee is waved off.
"We would not keep the IPL franchisee even if the entire franchisee fee is waved off. It is firm and final decision of Sahara to withdraw from IPL," the Sahara Group said in a detailed statement.
"In 2010, Sahara had bid 1700 crore for IPL franchise on the basis of revenue calculation on 94 matches. It was tricky on part of BCCI to put the number in media as 94 matches for getting bigger amount. But we got 64 matches only," it added.
Sahara claimed that the BCCI turned a deaf ear to its pleadings for arbitration and reducing the franchise fee.
"We and Kochi Team immediately protested and requested BCCI to reduce the bid price proportionately for viable IPL proposition. Nothing was heard. We waited with confidence that such a sports body should have sportsmanship spirit," it said.
"We continuously requested BCCI for Arbitration from June 2011. But BCCI is only concerned about money and not about the genuine interests of the franchisee. Thus, (when) we could not penetrate BCCI's deaf ears, we announced our withdrawal in February 2012," it added.
The Sahara Group said it was tempted to withdraw the Indian cricket team's sponsorship also but refrained from doing so in the interest of the players.