Sunday, September 02, 2012

Deccan Chargers will be sold

One of the franchises of the Indian Premier League (IPL), Deccan Chargers, will be sold. Its owner, Deccan Chronicle Holdings Limited (DCHL), is looking for a buyer and in this matter it will get help from the Indian cricket board (BCCI).
To handle the deal of selling the team, DCHL had appointed Religare Capital Markets Ltd back in June.
Due to financial liabilities of the franchise owner, prospective buyers did not dare to proceed to buy the club. The club owner is yet to pay all the players in full following the 2012 IPL season. However, BCCI has extended the deadline from August 31 to September 15 to pay all players payment.
Deccan Chargers won the title in 2009, the second edition of IPL.