Financial crisis hit Deccan Chargers looking for buyers through tender

Financial crisis hit Deccan Chargers looking for buyers through tender

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A tender notice has been issued by the IPL franchise Deccan Chronicle Holdings Limited (DCHL). The notice has invited bids from the buyers of the Indian Premiere League team Deccan Chargers. The IPL tea is currently going through a financial crisis.

Reports say that of the Deccan Chargers do not close a deal with a buyer by September 7, 2012 then the Board of Control for Cricket India would float a tender to find a replacement for the crisis hit franchise. The working committee of the cricket board had on September 3, 2012 decided to allow the DCHL to go ahead and issue a tender.

Whoever may be the new buyer will have to pay the salaries of Deccan Chargers’ players for the fifth edition of the IPL. The tender notice has mentioned, “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, 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”.

The term ‘as is where is’ means that the new owner of the team has to use the name ‘Deccan Chargers’ and will also have to clear the liabilities of the current owner.