New Delhi: The impasse between the Indian Cricket Board and Sahara ended today with the BCCI
Sahara Group Chairman Subrata Roy on Feb 4th - The day he decided to cut ties with the BCCIagreeing to Sahara's demand. Sahara will remain as Team India's sponsor and the Pune Warriors will continue to play in the Indian Premier League.
The board has also agreed to reactivate the auction money for the Pune warriors.
On February 4th, Sahara decided to cut its ties with the BCCI, withdrawing its sponsorship of the Indian team and ownership of the Pune Warriors India IPL franchise.
Sahara said the decision to end their partnership comes over long-standing business grievances with the BCCI and the IPL governing council's handling of Yuvraj Singh, who is the captain of the Sahara-owned IPL team, Pune Warriors.
Yuvraj, who was bought by Pune in 2011 for USD 1.8 million, will miss the IPL this year as he seeks treatment for his lung tumour. Pune had asked the IPL governing council to let them increase their auction purse to help them seek replacement players. The council turned the demand down.
Sahara had paid Rs 400 crore in 2005 for a four-year deal to sponsor the Indian team. In 2010, the deal was renewed at approximately 490 crore till December 31, 2013.
Statement issued by the BCCI said that the board agreed to the following demands of Sahara:
1. To extend the trading window, which was due to close on Friday 17 February, until Wednesday 29 February 2012 to give Pune Warriors India the opportunity to have successful negotiations with other franchises as it looks to strengthen its squad.
2. Re-activation of the Auction Purse of Pune Warriors India so that it can take a number of players, subject to the squad composition regulations.
3. BCCI and Sahara agree to start the arbitration proceedings initiated by Sahara through appointment of an arbitrator to address Sahara's claim for a reduction in franchise fee for 74 matches.
4. BCCI does not have any issues with Sahara seeking a strategic partner in the Pune Warriors India franchise, subject to terms of the Franchise Agreement.
5. In respect of their request to sign overseas players who were not included in the Auction Register, subject to the relevant player regulations, BCCI agrees to the request subject to the views of all other franchise
6. Sahara has requested for one of the play off matches scheduled to be played in Bengaluru to be played in Pune. The right to host the Play Off matches is awarded to the finalists from previous edition, in this case Royal Challengers Bangalore. BCCI is in principle agreeable to host one of the Play Off in the new Pune stadium subject to the consent of RCB.
7. Sahara has requested to furnish the Bank Guarantee against the Franchisee fee in two installments; BCCI will consider it at the next available opportunity.
8. Notwithstanding the recent working committee decision rejecting 5 foreign players in the playing XI, in consideration of the exceptional circumstance and the non-availability of Mr. Yuvraj Singh, Sahara has offered to obtain the consent of all the franchises for the submission to the BCCI.
Sahara Group Chairman Subrata Roy on Feb 4th - The day he decided to cut ties with the BCCIagreeing to Sahara's demand. Sahara will remain as Team India's sponsor and the Pune Warriors will continue to play in the Indian Premier League.The board has also agreed to reactivate the auction money for the Pune warriors.
On February 4th, Sahara decided to cut its ties with the BCCI, withdrawing its sponsorship of the Indian team and ownership of the Pune Warriors India IPL franchise.
Sahara said the decision to end their partnership comes over long-standing business grievances with the BCCI and the IPL governing council's handling of Yuvraj Singh, who is the captain of the Sahara-owned IPL team, Pune Warriors.
Yuvraj, who was bought by Pune in 2011 for USD 1.8 million, will miss the IPL this year as he seeks treatment for his lung tumour. Pune had asked the IPL governing council to let them increase their auction purse to help them seek replacement players. The council turned the demand down.
Sahara had paid Rs 400 crore in 2005 for a four-year deal to sponsor the Indian team. In 2010, the deal was renewed at approximately 490 crore till December 31, 2013.
Statement issued by the BCCI said that the board agreed to the following demands of Sahara:
1. To extend the trading window, which was due to close on Friday 17 February, until Wednesday 29 February 2012 to give Pune Warriors India the opportunity to have successful negotiations with other franchises as it looks to strengthen its squad.
2. Re-activation of the Auction Purse of Pune Warriors India so that it can take a number of players, subject to the squad composition regulations.
3. BCCI and Sahara agree to start the arbitration proceedings initiated by Sahara through appointment of an arbitrator to address Sahara's claim for a reduction in franchise fee for 74 matches.
4. BCCI does not have any issues with Sahara seeking a strategic partner in the Pune Warriors India franchise, subject to terms of the Franchise Agreement.
5. In respect of their request to sign overseas players who were not included in the Auction Register, subject to the relevant player regulations, BCCI agrees to the request subject to the views of all other franchise
6. Sahara has requested for one of the play off matches scheduled to be played in Bengaluru to be played in Pune. The right to host the Play Off matches is awarded to the finalists from previous edition, in this case Royal Challengers Bangalore. BCCI is in principle agreeable to host one of the Play Off in the new Pune stadium subject to the consent of RCB.
7. Sahara has requested to furnish the Bank Guarantee against the Franchisee fee in two installments; BCCI will consider it at the next available opportunity.
8. Notwithstanding the recent working committee decision rejecting 5 foreign players in the playing XI, in consideration of the exceptional circumstance and the non-availability of Mr. Yuvraj Singh, Sahara has offered to obtain the consent of all the franchises for the submission to the BCCI.
No comments:
Post a Comment