On 21 January 2014, IPTL announced that one of the charter franchises for the league inaugural 2014 season would be based in Mumbai. On 19 June 2014, an IPTL press release revealed to the general public that the owner of the Indian franchise was Micromax Informatics Ltd. which preferred to have the team play its home matches in New Delhi and not in Mumbai. A group called PVP Ventures led by entrepreneur Prasad V Potluri and cricket legend Sachin Tendulkar had been the original franchise owners with a plan to play home matches in Mumbai. While league managing director Mahesh Bhupathi said PVP Ventures had been replaced by Micromax, because PVP missed a payment deadline, PVP said it had withdrawn from the league due to lack of clarity over how IPTL's business model was progressing and disagreements over player contracts. PVP did not want the team to be solely responsible for payment of player salaries and favored the league being obligated as well.