BCCI terminates the contract of IPL team Pune Warriors

Source: Economic Times

The BCCI after meeting of its working committee on Saturday decided to terminate Pune Warriors from the IPL after Sahara group refused to furnish the requisite bank guarantee of Rs 170.2-crore despite five reminders. The decision to terminate Pune, bought by Sahara for approx Rs.1702-crore in 2010, would leave the IPL with eight teams and cause substantial losses to BCCI....... Full Story