{"id":1520,"date":"2012-09-06T12:51:12","date_gmt":"2012-09-06T12:51:12","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=1520"},"modified":"2012-09-06T12:51:53","modified_gmt":"2012-09-06T12:51:53","slug":"deccan-charges-is-up-for-sale","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/deccan-charges-is-up-for-sale\/","title":{"rendered":"Deccan Charges is up for the sale"},"content":{"rendered":"

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\nHaving got 10 days relief from the BCCI, Deccan Chronicle Holdings Ltd (DCHL) gathered time to invite perspective buyers for the auction for its Indian Premier League (IPL) franchisee Deccan Charges, which is going through tough financial times.<\/p>\n

The Indian cricket board\u2019s (BCCI) working committee on Monday has directed DCHL to go ahead and publish tender notice in the leading national dailies.<\/p>\n

According to the tender notice, \u201cunder this invitation to tender issued by DCHL, the winning bidder will acquire from the DCHL on an \u201cas is where is\u201d 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\u201c.<\/p>\n

The term \u201cas is where is\u201d means that the new buyer will have to use the name Deccan Chargers and will have toclear the liabilities of the current owner.<\/p>\n

The invitation to tender and the bid document can be acquired from the BCCI office in Mumbai from September 7 upon a payment of Rs 5 lakh by demand draft or pay order favouring DCHL.<\/p>\n

According to the IPL constitution, 5 per cent of the bidding amount will be acquired by the BCCI.
\nThe last day for submitting the bid will be 12 noon on September 13 and the new owner will be declared on the same day.<\/p>\n

The new potential buyer may have to pay the salary of the Deccan Chargers\u2019 players for the fifth edition of the IPL.
\nThe move is also a respite to consortium of banks, which had loaned out major amount to DCHL, to recover their money since the name of the team will remain Deccan Chargers.\t<\/p>\n