Loading...
Loading Live Scoring...
*All times CAT (GMT+2)

Cricket | IPL

Real estate firm to buy Deccan Chargers



The owners of the cash-strapped Deccan Chargers have sold the Indian Premier League (IPL) franchise to a real estate company for an undisclosed sum.

Deccan Chronicle Holdings, who paid $107 million for the franchise in 2008, informed the Indian stock exchanges on Friday of their decision to sell the team to Kamla Landmarc, a Mumbai-based real estate company.

Last month, the owners had invited bids for the franchise after being granted approval by the Indian cricket board (BCCI) but rejected the sole offer of nine billion rupees ($162.4 million) for the 2009 IPL champions.

The BCCI later terminated the franchise for various defaults, including failure to pay overdue player fees, but the owners immediately issued a legal challenge against the expulsion, a case which is still ongoing.

Sri Lankan batsman Kumar Sangakkara captained the team in the 2012 edition of the lucrative IPL, heading a team which also included South Africa paceman Dale Steyn but failed to qualify for the playoffs.

Last year, the BCCI terminated the contract of the Kochi franchise for defaulting on payments while DLF, India's largest real estate firm, terminated the title sponsorship of the league in August ending a five-year association.



Comments

More expert analysis and opinion from Sport24
The opinions expressed by Sport24 experts and bloggers are theirs alone, and do not necessarily represent those of SuperSport

Event Streaming

Channel Streaming

Other Live Streaming

Event Streaming

Channel Streaming

Sports Talk



Haze's Comment
An interesting bat comparison
My IPL commentary schedule has afforded me the opportunity to put my feet up for a few days in The...

Mpumelelo Mbangwa
World Cup form influencing IPL selection
A week has gone by since the start of this eighth edition of the IPL and it seems like business as...

Kepler Wessels
Time to prepare for T20
The next ICC event is only a few months away. The world T20 is the next world event on the schedule.

Faf du Plessis
Bring on the IPL!
Greetings from Chennai, India where I am back playing in the Indian Premier League