Bloomberg News

Sahara Group to Withdraw Sponsorship to India’s Cricket Team

February 05, 2012

Feb. 5 (Bloomberg) -- Sahara Group, the Indian owner of assets ranging from television channels to real estate, will stop sponsoring the nation’s cricket team, according to an e- mailed statement.

“We are withdrawing from all cricket under the Board of Control for Cricket in India,” Sushanto Roy, managing director of Sahara Adventure Sports Ltd., said in the statement.

Lucknow, India-based Sahara will pay for the team for about four months more, Roy said. The board, known as BCCI, is the governing body for cricket in India.

Sahara will also leave the annual Indian Premier League cricket tournament because of differences with BCCI, according to the statement. The group holds the franchise for the Pune Warriors team based in western India.

--Editors: Anil Varma, Jake Lloyd-Smith

To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net

To contact the editor responsible for this story: Anil Varma at avarma3@bloomberg.net


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