- Joined
- Apr 5, 2009
- Messages
- 11,615
- Likes
- 5,772
Sun TV wins IPL Hyderabad franchise
Sun TV network won the Hyderabad franchise during the bid for a new Indian Premier League team, in Mumbai , on Thursday.
-Deccan Chargers out of IPL; SC refuses to stay its termination
Sun TV's won the Hyderabad franchise with an amount of 85.05 crore per year.
Debt-ridden Deccan Chargers [ Images ] was terminated by the Board of Control for Cricket in India earlier this year and the tenders for a new franchise was floated.
The IPL Governing Council met earlier in Mumbai to open the bids for a new IPL Franchise.
"The SUN TV Network bid was substantially higher than the second bid of PVP Ventures, which was 69.03 crores," the BCCI said in a media release.
"This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008," it added.
The BCCI had floated the tenders for a new IPL franchise after terminating Deccan Chargers' contract on September 15 but the team owners DCHL had challenged it at the Bombay High Court.
The High Court had ruled in favour of the BCCI after Deccan Chargers Holdings Limited failed to furnish bank guarantee of Rs 100 crore before October 12, 5pm deadline.
Later, an arbitrator had ordered for status quo but the High Court again ruled in favour of the Board.
DCHL then approached the Supreme Court which, however, declined on October 19 to interfere with the High Court decision which had set aside the status quo order passed by the arbitrator.
Sun TV network won the Hyderabad franchise during the bid for a new Indian Premier League team, in Mumbai , on Thursday.
-Deccan Chargers out of IPL; SC refuses to stay its termination
Sun TV's won the Hyderabad franchise with an amount of 85.05 crore per year.
Debt-ridden Deccan Chargers [ Images ] was terminated by the Board of Control for Cricket in India earlier this year and the tenders for a new franchise was floated.
The IPL Governing Council met earlier in Mumbai to open the bids for a new IPL Franchise.
"The SUN TV Network bid was substantially higher than the second bid of PVP Ventures, which was 69.03 crores," the BCCI said in a media release.
"This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008," it added.
The BCCI had floated the tenders for a new IPL franchise after terminating Deccan Chargers' contract on September 15 but the team owners DCHL had challenged it at the Bombay High Court.
The High Court had ruled in favour of the BCCI after Deccan Chargers Holdings Limited failed to furnish bank guarantee of Rs 100 crore before October 12, 5pm deadline.
Later, an arbitrator had ordered for status quo but the High Court again ruled in favour of the Board.
DCHL then approached the Supreme Court which, however, declined on October 19 to interfere with the High Court decision which had set aside the status quo order passed by the arbitrator.
