By Sudipto Ganguly
MUMBAI, Sept 7 (Reuters) - The cash-strapped Hyderabad
franchise of the Indian Premier League (IPL) has invited bids
for its Twenty20 team in what is perceived as yet another sign
of the league's diminishing sheen.
Deccan Chronicle Holdings, the owners of Deccan Chargers,
issued a tender notice on Thursday putting the team up for sale
after getting the nod of the Indian cricket board (BCCI) which
discussed the issue in a meeting on Monday.
"Of course, they have the go-ahead from the BCCI," Ratnakar
Shetty, the board's chief administrative officer, told Reuters
The new franchisee owner will be announced on Sept. 13.
"The winning bidder will acquire... the right to own and
operate the IPL team currently known as the Deccan Chargers
which is and will continue to be based in Hyderabad," the tender
Indian consumer electronics maker Videocon Industries is
interested in buying the franchise while the Chennai-based Sun
Group is also tipped by the local media as one of the
"Yes, we are interested and will place our bids for buying
out Deccan Chargers. It's a good fit for our brand and will be
used to connect to our consumers," Venugopal Dhoot, chairman of
the Videocon Group, told the Times of India newspaper.
Deccan Chronicle paid $107 million in 2008 to bag the
franchisee for 10 years. The team finished last in the inaugural
edition of the IPL but came back strongly to win the next
edition in South Africa in 2009.
Sri Lankan batsman Kumar Sangakkara captained the team in
the 2012 edition of the cash-rich IPL, which also included South
Africa paceman Dale Steyn.
Since its 2008 inception, the IPL dazzled fans and offended
purists with player auctions, post-game parties and heavy
The league's celebrity franchise owners include Reliance
Industries chief Mukesh Ambani, India's richest man, as well as
spirits and airline magnate Vijay Mallya and Bollywood actor
Shah Rukh Khan.
However, a series of scandals has tarnished the league's
The BCCI sacked IPL Chairman Lalit Modi in 2010 following
corruption charges and viewers' fatigue has prompted a dip in TV
Last year, the board terminated the contract of the Kochi
franchise for payment default while DLF, India's largest real
estate firm, terminated the title sponsorship of the league last
month ending a five-year association.
(Reporting by Sudipto Ganguly; editing by Amlan Chakraborty)