The BCCI on 26 October 2013 terminated Pune Warriors from the IPL after the Sahara-owned franchise failed to pay its payments and refused to furnish the bank guarantee for the next season. The decision was taken at the Cricket Board's all-powerful working committee meeting. BCCI wanted the team to furnish a bank guarantee of 170.2 crore rupees to remain a part of the league next year.
Sahara has been demanding the completion of the arbitration proceedings on the issue of franchise fee, which, it feels, should be lowered since the BCCI did not deliver on its promised number of IPL matches for the team.
Pune Warriors were purchased by Sahara for 370 million US dollars (1702 crore rupees) in 2010 and it was the most expensive franchise on the IPL roster.
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