No Buyers for Deccan Chargers

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Debt-ridden Deccan Chargers’ bid to find a buyer ended in an anti-climax with the IPL team rejecting the only bid they received, leaving the future of the beleaguered franchise uncertain.

HyderabadDeccanChargers No Buyers for Deccan ChargersDeccan Chronicle Holdings, the owner of Deccan Chargers, received a bid of Rs. 900 crore by PVP Venture Capitals but surprisingly chose to reject it at the auction as it considered the price and terms unsuitable. The BCCI later issued a press release and said the Board had no role in Chargers’ decision to reject the bid.

The BCCI has now been forced to take a decision on the fate of Chargers at its Working Committee meeting in Chennai on September 15, 2012. The development has put the BCCI in a quandary as it was expecting the franchise to resolve its financial problems by finding a buyer for itself.

It is already clear that Deccan Chargers, the champions of second edition of Indian Premier League, is unlikely to feature in the next edition of the cash-rich league i.e. IPL6.

BCCI needs to to something soon else the team players will be in a jeopardy.

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