Cricket

Chargers reject takeover bid

2012-09-13 16:42
Deccan Chargers (File)

Hyderabad - Owners of the cash-strapped Hyderabad franchise have rejected the one takeover bid they have received for the Indian Premier League (IPL) team, the country's cricket board (BCCI) said on Thursday.

Deccan Chronicle Holdings, which owns the Deccan Chargers, put the Twenty20 team up for sale last week after getting the nod from the cricket board.

"They informed us the price and terms were not suitable so they did not accept it," BCCI president N. Srinivasan told reporters in Chennai.

"The BCCI assisted the Deccan Chargers and we also looked at the eligibility criteria, whether they were fit and proper.

"We found the party was acceptable to us. After that, though, it was between Deccan Chargers and the bidder."

According to media reports PVP Ventures, a company which has interests in real estate and also finances film projects, submitted a bid of nine billion rupees ($162.4 million) to buy the troubled franchise.

Deccan Chronicle paid $107 million in 2008 to bag the franchise for 10 years.

The team finished last in the inaugural IPL but came back strongly to win the next edition in South Africa in 2009.

The Chargers were second last in the most recent IPL tournament that ended in May.

Read more on:    deccan chargers  |  cricket
NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs
Vote

Assuming AB de Villiers is over his elbow injury, who should skipper the Proteas in their Boxing Day Test against Sri Lanka?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.