DECCAN CHARGERS MIGHT NOT PLAY IPL 6
If you are Deccan Chargers fan this news might not come to you as a big surprise that the champions of IPL 2 is very unlikely to feature in the next and 6th edition of the cash-rich cricketing extravaganza which is forcing the BCCI (Indian Cricket Board) to search for a new prospective buyer in the coming days.
In a media release the top BCCI official said- “The IPL governing council members will be meeting on September 4 where a concrete decision regarding the future of Deccan Chargers will be taken. As of now, there is very little chance that DC will be playing in IPL VI as it is unable to resolve the financial problems. The Board will have to find a new buyer for the team”.
The background story behind the Deccan Chargers’ financial debacle is- in June 2012, the Deccan Chronicle group had tied up with Religare Capital Markets Ltd to advise it on selling of Deccan Chargers. However, according to Religare Capital, financial liabilities of the Deccan Chronicle Group pushed away the prospective buyers and hence, the case has been intimated to the BCCI.
Due to Deccan Chargers owner’s inability to sell the team, the matter is now in the hands of the BCCI. What seems to be a normal BCCI procedure Deccan Chargers could be soon auctioned. The formal announcement will come within a few days but BCCI is likelay to get a suitable replacement as many business houses are interested in buying a team.
The Deccan Chronicle group had acquired the franchise for USD 107 million (approximately Rs 588 crore) in 2008.