No Buyers for Deccan Chargers
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.
Deccan 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.