Sahara India has ended their financial ties with BCCI as well as pulled out of IPL
Sahara, which has been the team sponsor for 11 years, signed a renewed agreement with the BCCI on July 1, 2010 till December 31, 2013.
Sahara was paying Rs 3.34 crore per Test match, one-day international and Twenty20 International under the new terms.
“After an 11-year journey as sponsors, we can say with surety that cricket has become very rich. Many rich people are there to support cricket with a strong will to do so. So, with absolute peace of mind we can exit from cricket under BCCI and are exiting with a heavy heart,” Sahara India said in a statement.
It was an emotional decision for us to start this sponsorship but our emotions were never appreciated and many genuine situations were not given due consideration at all, the statement read.
Last year, Sahara entered the IPL on the basis of information in the media and everywhere else that 94 matches will be played among 10 teams. The bid price was accordingly calculated, but only 74 matches were played. We are still pursuing continuously with the BCCI to refund the extra bid money proportionately. It has been denied on the basis of strict rules. – It added in the statement issued.