Sunday September 16, 2012
Top IPL team Deccan Chargers are thrown out
NEW DELHI: Indian cricket authorities have terminated Indian Premier League side the Deccan Chargers for failing to comply with a deadline for overdue player fees, the Board of Control for Cricket in India (BCCI) said yesterday.
The decision, the BCCI said in a statement, was “only due to the absolute inability of the franchise to effectively run the team“.
The BCCI added due to the “stated position of the Deccan franchise to refuse to rectify the various defaults including payments to players... a decision was taken to forthwith terminate the Deccan franchise“.
Since May the board said it had “received repeated assurances that the overdue player fees would be paid; all of these promises have been unfulfilled“.
Deccan Chronicle Holdings, a media company that bought the team for $107 million before the inaugural IPL in 2008, sought to sell the cash-strapped Hyderabad-based team this week, having placed advertisements in newspapers inviting bids.
It received just one proposal when bids opened Thursday, which it rejected “on the basis of the payment terms offered by the bidder“, the BCCI, which owns the IPL, said at the time.
The company has been ordered by banks to reduce its debts, according to Indian media. — AFP