By Abhishek Manroa
NEW DELHI, India
(TheSportsNEXT) October 25, 2012: The Hyderabad Deccan was resurrected on
the Indian Premier League’s map on Thursday when the Sun TV Network acquired
the rights to own the IPL franchise after bidding around 15.9 million US
dollars for a five-year deal.
Hyderabad was previously represented by Deccan Chargers in
the cash-rich Indian Premier League who were terminated by the Board for
Control of Cricket in India (BCCI) for failing to meet the deadline for raising
its bank guarantee.
The Sun TV Network beat PVP Ventures who offered around 12.9
million US dollars for the IPL franchise. The PVP Ventures have failed for the
second time to own the Hyderabad Deccan franchise in the IPL after they offered
900 crore Indian rupees or 164 million US dollars for a period of ten years
last month.
IPL Governing Council announced the decision in Mumbai on
Thursday a week after it terminated the Deccan Chargers for failing to cope
with financial liabilities.
Apart from announcing Sun TV Network as the latest inclusion
in the IPL family, the Governing Council also decided on future of the
high-profile cricketers like Kumar Sangakkara and Dale Steyn who were part of
the Deccan Chargers.
The BCCI has reportedly offered the Sun TV Network to sign
new contracts with the Deccan Chargers players who they want to keep in their
side till the end of this month. The ones who are not contacted by the Sun TV
Network will become free agents and will be available for auction for the IPL’s
next edition.
The Sun TV Networks Limited, based in Chennai, is one of the
biggest television networks in India and has 32 TV channels as well as 45 radio
stations catering mostly to an audience living in the southern India.
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