Sahara Withdraws India Cricket Sponsorship

Indian cricket’s major sponsor “Sahara India” withdraws its multi-million dollar sponsorship from the nation team and also gives up the ownership of Pune franchise of the Indian Premier League (IPL).

Sahara's decision comes just hours before the IPL 2012 auction, when 144 players went under the hammer in Bangalore. Pune Warriors did not take part in the auction.

Sahara India has offered to continue as sponsors for the next 2–4 months, till the Board of Control for Cricket in India (BCCI) finds a new sponsor.

Sahara had won the bid to continue as the Indian team sponsor in May 2010. Sahara's sponsorship deal with the BCCI is worth at $719,000 per match and will end on December 31, 2013. Sahara bid $370 million to become owners of the IPL Pune franchise in 2010.

Sahara cited several reasons while ending its 11-year-old association with the BCCI, the latest being its request in the IPL auction being turned down.

Sahara had requested the IPL to add Yuvraj Singh's price into its auction purse after the southpaw was ruled out of the tournament with a lung tumor. Sahara said it would pay Yuvraj his full fee.