BCCI terminates Deccan Chargers team’s IPL contract
Deccan Chronicle Holdings Ltd. (DCHL), the owner of the Hyderabad-based Deccan Chargers IPL franchise announced the sale of the team by auction but rejected the only bid it received.
The bid from PVP ventures was for 450-crore rupees and an equal sum in convertible debentures.
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The cricketing watchdog confirmed that the Deccan Chargers IPL franchise was terminated because DCHL rejected the bid despite the bidder meeting the eligibility criteria outlined by BCCI.
In addition, DCHL did not fulfill its promises of paying the overdue player fees since May this year.
BCCI “took note of the sudden change of stance by the franchise and also the fact that any further extension of time would seriously prejudice the interests of the players,” the board’s secretary, Sanjay Jagdale, said.
Following the termination, DCHL moved to Mumbai High Court to sort its issues with BCCI on termination and there were reports that the High Court has stayed the termination of the franchise.
But Jagdale clarified that the reports that the termination of the franchise has been stayed "is incorrect”.
“The BCCI would like to clarify that the counsels of both sides were present in Court on Saturday, 15 September," he said. "The Court heard both parties, and did not pass any order staying the termination." The matter has been placed for hearing on Monday, 17 September 2012.
The move means that Deccan Chargers’ players including captain Kumar Sangakkara – who won the ICC Cricketer of the Year award – and Indian players including RP Singh are available for new contracts.
