Terminating the cash-strapped Deccan Chargers franchise has intensified the Board of Control for Cricket in India (BCCI) vs Deccan Chronicles Holdings Limited (DCHL) battle.
“How can they (DC) sell the franchise without informing the BCCI when they bought the franchise from the Board through an auction?” a top board official told MiD DAY yesterday.
The BCCI is ready for the ensuing battle. “We don’t accept this sale of franchise. They were given a timeframe till 5pm on Friday for the Rs 100 crore bank guarantee, but they failed to honour that and so according to the Board, the Deccan Chargers franchise stands terminated,” the official added.
Earlier in the day, DCHL had sold the Hyderabad-based franchise to Mumbai based real estate giant, Kamla Landmarc Real Estate Holding Private Limited, for an undisclosed sum after Bombay High Court rejected their plea of extending the deadline further to furnish the bank guarantee.
The BCCI is determined to call fresh tenders for two more franchises for the sixth edition of the Indian Premier League (IPL) to be held next year. “We have no option, but to invite fresh tenders for the two slots up for grabs. The modalities of that will be finalised after Working Committee and Governing Council meetings to be held shortly,” the official said.
Asked about the fate of Kamla Landmarc Real Estate firm, who bought the franchise for an undisclosed sum yesterday, the official said: “This question cannot be answered at this point of time until and unless the meetings take place. We will take a call on that after discussing the issue at length. The maximum that can be done is to invite them (Kamla Landmarc) to an auction,” the official said.
According to the official, things wouldn’t have taken such a turn, had the franchise not defaulted on several counts. Last month, the BCCI had directed DCHL to find a buyer through an auction as the cash-strapped team was unable to pay even salaries to its players.
Though PVP Ventures Limited, a Hyderabad-based filmmaker and financier, came forward to buy the Deccan Chargers for Rs 900 crore ($162.4 million), the bid was rejected by DCHL due to differences over the terms of payment. Following which the board terminated the franchise and the matter turned into a legal battle.
Chargers’ journey in IPL
>> 2008: Finished at the bottom
>> 2009: Winners
>> 2010: Finished fourth
>> 2011: Finished seventh out of ten teams in the league
>> 2012: Finished eighth out of the nine teams in the league