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Friday, September 7, 2012

Deccan Chargers put up for sale


The Hyderabad-based IPL Team – Deccan Chargers – has officially been put on sale with its owners Deccan Chronicle Holdings Limited (DCHL) issuing a tender notice, inviting bids from prospective buyers on Thursday Sep 06,2012.

According to the tender notice, “under this invitation to tender issued by DCHL, the winning bidder will acquire from the DCHL on an “as is where is” basis the right to own and operate the IPL team currently known as Deccan Chargers”.

The term “as is where is” means that the new buyer will have to use the name Deccan Chargers and will have to clear the liabilities of the current owner. The new potential buyer may have to pay the salary of the Deccan Chargers’ players for the fifth edition of the IPL
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.he last day for submitting the bid will be 12 noon on September 13 and the winning bid will be announced on the same day.

NOTE
Deccan Chargers was bought for US$107 million in the first IPL team auction in 2008. At that time, it was the third-most expensive franchise, behind Mumbai Indians and Royal Challengers Bangalore.

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