Hyderabad out & Hyderabad in
A new turn around in the Indian Premier League.
Hyderabad Deccan Chargers lost their team in the Premier League and a bid that won a team will again be from Hyderabad so nothing to loose for people in Hyderabad, they will continue to cheer for their favorite home team.
Kalanithi Maran-led SUN TV, the South India-based media conglomerate, successfully won the bid to own and run the Hyderabad Indian Premier League (IPL) franchise team, replacing the debt-ridden Deccan Chargers which was terminated by the Indian cricket board.
After a failed bid last month and a flurry of court cases involving the board and Deccan Chronicle Holdings Ltd (DCHL), the parent company that owned Chargers, the BCCI had floated a fresh tender inviting bids for 12 cities in the fray.
SUN TV Network will now pay Rs 85.05 crore per year to the BCCI, for the next ten years, to own the franchise. The franchise fee represents a premium of over a 100% above the amount paid by the Deccan Chargers owners for the Hyderabad franchise in 2008.
Sun TV’s bid was also substantially higher than the second bid of PVP Ventures, which was at rs 69.03 crore per year. BCCI had placed Rs 300 crore as the base price for the team.