BCCI to meet; Chargers' fate to be decided today

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Published: Tuesday, September 4, 2012, 10:26 [IST]
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Chargers' fate to be decided today

Mumbai, Sep 4: With Deccan Chargers team up for auction, BCCI is meeting in Mumbai to discuss and resolve the issue, while a few prospective buyers have shown interest in owning the IPL team Deccan Chargers.

Chennai-based Sun Group, promoter of Sun Network, has shown interest in buying the stakes of the team, as sources also confirm that the talks are in final stages as BCCI has also planned to meet today to finalise the issue.

Deccan Chronicle Group is undergoing a financial crisis, which surfaced long back when they found it difficult to pay the cricketers for the fifth edition of IPL.

A continuous failure could have also led to selling the stakes, as the IPL team having played all the five seasons, excelled only in 2009, while they have finished fourth, seventh and eighth in the other editions.

Moreover, their performance in the fifth edition of IPL marked an early exit but the Kumar Sangakkara-led team came back strongly after being knocked out of the tournament by winning the matches against Rajasthan Royals and Royal Challengers Bangalore to spoil their chances to qualify for the play-offs. But fate remained unchanged as Chargers did not qualify for the play-offs.

Deccan Chronicle group which had bought the IPL team Deccan Chargers for USD 107 million in the year 2008, had Emirates, Jaypee Cement, TVS, Puma and Coca Cola as sponsors.

With the franchise selling the team, Chargers' participation in IPL 6 looks bleak. If the team is bought by any other franchise, then the players can think of playing the sixth edition of Indian Premier League.

Until the formal announcement is made, BCCI is expected to get a suitable replacement as many business houses are interested in buying the team.

BCCI is also expected to encash the bank guarantee and pay the salaries of players, according to a BCCI source.

"Obviously, for a new investor, the advantage will be that he would get a set team and also can buy a few more players. The BCCI will encash the bank guarantee and pay the salaries of the players," the Board official said.

Having bought the stakes for USD 107 million, Deccan Chronicle group has not specified the price at which they are willing to sell the team.

During the course of the day, Deccan Chargers' fate will be decided, as BCCI has scheduled a meeting today at Mumbai.


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