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.

Shop

The Proteas
20 Years, 20 Landmark Matches by Neil Manthorp
R171.00
The extraordinary book of SA cricket
The Extraordinary Book of South African Cricket is the perfect gift for any cricket fanatic.
R140.00
Jackers - A Life in Cricket
Robin Jackman has been entertaining cricket followers for more than forty years
R169.00
Bouch
Through my eyes
R147.00


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



Kepler Wessels
Proteas are streets ahead
When the number one test team in world cricket meets the side ranked eighth on home soil one...

Neil Manthorp
Reasons not to celebrate
This should be a time to celebrate everything good about South African cricket, from the genius of...

Haze's Comment
When they were kings
I was fortunate to grow up during the most intoxicating era of test cricket. Ray Illingworth's...

Mpumelelo Mbangwa
Any answers from tour of NZ & Aus?
It is very true that nobody likes to lose, not even in a kick-about game in the park. So the loss...

Faf du Plessis
Eager to take on the West Indies
I’ve been enjoying my time at home in Cape Town, but the focus has been on getting my hip right....

Neil Down Under
Week 2
Hashim Amla said after Sydney’s ODI that the series had been “closer than the scoreline would...