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Deccan Chargers team up for sale

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Updated: Thursday, September 13, 2012, 16:22 [IST]
 
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Deccan Chargers team up for sale

Bangalore, Sep 6: It is official now. Deccan Chargers will have new owners as Deccan Chronicle Holdings Limited (DCHL), on Thursday, invited bids from prospective buyers for the Indian Premier League franchisee.

DCHL issued a tender notice advertisement on Thursday in "The Times of India" newspaper.

The tender notice said: "Deccan Chronicle Holdings Limited, under the aegis of the BCCI, invites bids in respect to its IPL franchise, The Deccan Chargers."

The tender notice was issued by Venkattram Reddy, Chairman, DCHL.

According to the tender notice, the bidder will acquire the team "as is where is" basis. That means the franchisee will have to stay in Hyderabad and will continue as Deccan Chargers.

"Under this Invitation to Tender issued by Deccan Chronicle Holdings Limited, the winning bidder will acquire from Deccan Chronicle Holdings Limited on an "as is where is" basis the right to own and operate the IPL team currently known as Deccan Chargers which is and will continue to be based in Hyderabad and which competes in the Indian Premier League and which has the opportunity (if applicable and subject to qualification) to compete in each and any CLT20 which is staged from 2013 onwards."

"The Invitation to Tender contains details of how Bids may be submitted and can be acquired from Friday, 7th September 2012, 10.00 am onwards at the BCCI office, Cricket Centre, Wankhede Stadium, D Road, Churchgate, Mumbai-400 020, upon payment of Rs Five Lakhs (Rs. 5,00,000) (non-refundable and non-adjustable) by demand draft or pay order favouring Deccan Chronicle Holdings Limited," the notice said.

It added: "Potential bidders will have the opportunity to seek clarifications until 5PM (IST) on Monday, 10th September 2012. All bidding parties will need to fulfil the eligibility criteria of BCCI and other requirements specified in the Invitation to Tender. Bidders may be required to enter into a new franchise agreement with BCCI. The purchase consideration will be paid into a bank account as decided by the lending banks, with 5% payable directly to the BCCI."

"Bids must be submitted in person at 12.00 noon (IST) on Thursday, 13th September 2012 at the Greenways Hall, ITC Hotel Park Sheraton and Towers, Chennai. The winning bid will be announced on the same day."

Chargers won the second edition of the IPL in 2009 in South Africa after finishing last in the inaugural event.

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Read more about: deccan chargers, ipl, bcci
Story first published:  Thursday, September 6, 2012, 15:09 [IST]
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