Cash crunch: Roger Federer, Serena Williams not to participate in IPTL this year
The cash crunch, which India is facing following the Nov 8 announcement by the Centre to ban old Rs. 500 and Rs. 1000 currency notes, have led to the move, the organizers said.
Mahesh Bhupathi, founder and Managing Director of IPTL, said: "We have had challenges this year, and we were hoping to get past them. With the current economic climate in India and the uncertainty of spending money, I reached out to both Roger and Serena to explain the situation. They have been both been very supportive of the IPTL the first two seasons and we look forward to bring them in future years."
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