The Sun TV Network, a south India-based mass media company, has won the bid for the Hyderabad franchise in the Indian Premier League.The Board of Control for Cricket in India announced on Thursday that the Chennai company bid $15.8 million per year after original owner Deccan Chronicle Holdings Limited, which ran the team by the name of Deccan Chargers, was dropped this month for not paying players' dues and an inability to sell the team.
The Chargers' demise reduced the number of teams to eight but the BCCI invited bids to ensure the IPL remained a nine-team competition. “SUN TV Network have won the Hyderabad Franchise for an amount of Rs 85.05 crores per year. This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008,” BCCI Secretary Sanjay Jagdale said in a release.
“The SUN TV Network bid was substantially higher than the second bid of PVP Ventures, which was Rs 69.03 crores,” Jagdale said.In an effort to attract more bidders, the BCCI had kept the base price at a reasonable Rs 60 crores per year. Deccan Chronicle Holdings Limited had bought the Hyderabad franchise for Rs 428 crores for a period of 10 years.
Chennai-based Sun TV Networks Limited is one of India’s biggest television networks with 32 TV channels and 45 FM radio stations primarily catering to an audience in the four southern languages of India. Their network includes channels covering news, entertainment, film, documentary and music.The BCCI had floated the tenders for a new IPL franchise after terminating Deccan Chargers’ contract on September 15 but the team owners DCHL had challenged it at the Bombay High Court.
Media tycon Kalanithi Maran-owned Sun TV Network (Sun TV), the new entrant of the Indian Premier League (IPL), today announced a contest, for selecting a name for the new Hyderabad IPL Franchise. The winner will get Rs 5 lakh, said the company.
The Chargers' demise reduced the number of teams to eight but the BCCI invited bids to ensure the IPL remained a nine-team competition. “SUN TV Network have won the Hyderabad Franchise for an amount of Rs 85.05 crores per year. This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008,” BCCI Secretary Sanjay Jagdale said in a release.
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| Logo of Sun TV network |
Chennai-based Sun TV Networks Limited is one of India’s biggest television networks with 32 TV channels and 45 FM radio stations primarily catering to an audience in the four southern languages of India. Their network includes channels covering news, entertainment, film, documentary and music.The BCCI had floated the tenders for a new IPL franchise after terminating Deccan Chargers’ contract on September 15 but the team owners DCHL had challenged it at the Bombay High Court.
Media tycon Kalanithi Maran-owned Sun TV Network (Sun TV), the new entrant of the Indian Premier League (IPL), today announced a contest, for selecting a name for the new Hyderabad IPL Franchise. The winner will get Rs 5 lakh, said the company.
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