BCCI gives in, Sahara back in IPL and as Team India sponsor

It seems like the BCCI-Sahara soap opera is finally over. The warring parties have finally reached a compromise on the Indian Premier League issue.

With the issue behind them, the Sahara group has also said that it is willing to sponsor the Indian team again. But it has said that theyit may want to exercise its right to assign the sponsorship as per the agreement.

The development has come after former board president Shashank Manohar was roped in for the negotiations a day after the BCCI Working Committee pointed to the rulebook over most demands made by the IPL franchisee.

The BCCI, on current evidence, look to have bent over backwards to make concessions and keep Sahara within the fold. The Board has agreed to the following:

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.