India news June 15, 2012

Deccan Chargers hunts for buyers

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Deccan Chronicle Holdings Limited, the owner of IPL side Deccan Chargers, is exploring the possibility of selling all or part of the franchise and has appointed an investment banker to search for prospective buyers, ESPNcricinfo has learned. When contacted, a franchise spokesperson declined to comment on the matter, but a person familiar with the development said Religare Capital Markets has been appointed to handle the deal.

Deccan Chargers was bought by the Deccan Chronicle group for US$107 million in the first IPL team auction in 2008. At the time, it was the third-most expensive franchise, after Mumbai Indians and Royal Challengers Bangalore. During the second team auction in 2010, the Pune franchise was sold to the Sahara group for $370 million while the now dissolved Kochi franchise was bought by a consortium for $333 million.

If the owners are successful in finding a buyer, they would be the second in the IPL to sell at least a part of the franchise. In 2009, Rajasthan Royals, then the reigning IPL champions, sold an 11.7% stake in the franchise for approximately $15.4 million to Shilpa Shetty, the Bollywood actress, and her partner Raj Kundra, a UK-based businessman. That put the valuation of the franchise at around $140 million, more than double the $67 million the owners, Emerging Media, paid for it a year ago in 2008.

Led by Adam Gilchrist, the former Australia wicketkeeper, Chargers won the IPL in 2009. They struggled in this season's event, however, finishing eighth out of nine teams and winning just four games under the leadership of Kumar Sangakkara, the former Sri Lanka captain, and Cameron White, the Australia batsman.

Tariq Engineer is a senior sub-editor at ESPNcricinfo

Comments have now been closed for this article

  • on June 18, 2012, 13:02 GMT

    dc should get back local players like suman,ojha v.rao and next season they have to bey rayudu at any cost

  • mangat083 on June 17, 2012, 17:37 GMT

    Go salman buy this team... This team will rock if salman buy it..

  • mangat083 on June 17, 2012, 17:31 GMT

    I think salman khan should buy this team.. He is a real fighter.the team will get a big boost by having him.they will buy some great players because there will be no shortage of money.

  • on June 17, 2012, 16:18 GMT

    the mask behind gayathri reddy merciilessly released the entire team for auction in 1911 and treated very very smooth laxman badl and shabbily

    her face may be charming but she does not deserve any success nbs 17 6 12

  • on June 17, 2012, 10:44 GMT

    It was not either Kumar Sangakkara's or Cameron White's fault. It was totally the owners and coaches fault. They should have bought proper Indian players. $ foreign players can't do everything. Utter rubbish to blame the captains

  • sweetspot on June 17, 2012, 6:06 GMT

    Great time for someone to drive a hard bargain and buy into an opportunity. The team only has to excite its fan base for the franchise to make money. It does not have to keep winning. If Ishant Sharma had been fit this season, things would have been less disastrous. DC are not half as bad as they looked on the table. Particularly as a CSK fan, it was most heartening to see them knock RCB out! Go DC!

  • on June 17, 2012, 5:52 GMT

    present owners failed to buy a good team, lost valuable players like KP, Ojha to other teams for making money. This Franchise failed to capitalize the Hyderabad team following. We want a better ownership and the team name should include Hyderabad.

  • on June 17, 2012, 5:13 GMT

    i think dc should buy a new better player make him the captain.

  • on June 17, 2012, 3:24 GMT

    Wrong time to sell your stake. Not when you have been walloped in the season. RR got a good deal because it was immediately after the season after their win

  • gunnerr4life on June 16, 2012, 21:47 GMT

    friends life t20 league is way more entertaining than any other 20/20 league .. It's pure cricket and not a business or entertainment industry .. The spectators there comes to see cricket , unlike IPL, where most of the people come to see cheerleaders and movie stars ! This is not cricket ...

  • on June 18, 2012, 13:02 GMT

    dc should get back local players like suman,ojha v.rao and next season they have to bey rayudu at any cost

  • mangat083 on June 17, 2012, 17:37 GMT

    Go salman buy this team... This team will rock if salman buy it..

  • mangat083 on June 17, 2012, 17:31 GMT

    I think salman khan should buy this team.. He is a real fighter.the team will get a big boost by having him.they will buy some great players because there will be no shortage of money.

  • on June 17, 2012, 16:18 GMT

    the mask behind gayathri reddy merciilessly released the entire team for auction in 1911 and treated very very smooth laxman badl and shabbily

    her face may be charming but she does not deserve any success nbs 17 6 12

  • on June 17, 2012, 10:44 GMT

    It was not either Kumar Sangakkara's or Cameron White's fault. It was totally the owners and coaches fault. They should have bought proper Indian players. $ foreign players can't do everything. Utter rubbish to blame the captains

  • sweetspot on June 17, 2012, 6:06 GMT

    Great time for someone to drive a hard bargain and buy into an opportunity. The team only has to excite its fan base for the franchise to make money. It does not have to keep winning. If Ishant Sharma had been fit this season, things would have been less disastrous. DC are not half as bad as they looked on the table. Particularly as a CSK fan, it was most heartening to see them knock RCB out! Go DC!

  • on June 17, 2012, 5:52 GMT

    present owners failed to buy a good team, lost valuable players like KP, Ojha to other teams for making money. This Franchise failed to capitalize the Hyderabad team following. We want a better ownership and the team name should include Hyderabad.

  • on June 17, 2012, 5:13 GMT

    i think dc should buy a new better player make him the captain.

  • on June 17, 2012, 3:24 GMT

    Wrong time to sell your stake. Not when you have been walloped in the season. RR got a good deal because it was immediately after the season after their win

  • gunnerr4life on June 16, 2012, 21:47 GMT

    friends life t20 league is way more entertaining than any other 20/20 league .. It's pure cricket and not a business or entertainment industry .. The spectators there comes to see cricket , unlike IPL, where most of the people come to see cheerleaders and movie stars ! This is not cricket ...

  • Thunee_man_Naidoo on June 16, 2012, 20:09 GMT

    Agree with 'Joyesu'. DC had a fantastic team but downfall came when they retained none of their players. I was shocked when players like Gilchrist, Ojha and Harmeet Singh were not kept in the side!

  • on June 16, 2012, 15:02 GMT

    First and foremost they have to change team's name....name it Hyderabad Chargers or Andhra Chargers...DC is not good !!

  • Nashty on June 16, 2012, 14:36 GMT

    I am Looking To SALMAN to buy DC,So that SRK wl hav Fiitting Rival..

  • AjitDJ on June 16, 2012, 14:25 GMT

    I think this was always on the card given that the owners were showing absolutely no interest in running the team properly.

  • on June 16, 2012, 14:16 GMT

    SALMAN KHAN should buy it!!!!!

  • on June 16, 2012, 14:08 GMT

    shaman khan should buy this teammmmmm pls shalo ma BUY it pls baby

  • on June 16, 2012, 14:01 GMT

    The problem with the Deccan Chargers is that they have four stellar foreign players in a playing elevenand a pathetic lot of locals They can still resurrect their position by getting a brand new team of Indians and retaining the performers among the foreign players They need a good eye which can spot young Indian talent and give them the boost Cameron White as captain is successful in Australia and can surely make good here

  • joseyesu on June 16, 2012, 12:33 GMT

    Deccan is in the news for all bad cause. They had some wonderful players like Gilchrist(WINNER -Captained 2008) , Rohit sharma(Most Talented), Ojha (Orange capper), RP singh(Orange capper) and i don't know why they have not retained any. Looks as like some serious problems in managing. Need to form a team by retaining talented players wasted in other teams. Tamim(PW), Murali, Aravind and Nannes(RCB), Tyagi and Jadeja(CSK), Ojha, R.Levi, Suman and RP(MI), Van de Merwe (DD)

  • on June 16, 2012, 10:11 GMT

    DC desperately need captain like gouthi to be at the top again.

  • on June 16, 2012, 6:46 GMT

    To DINESHCC IPL is not a charity. Team owners invest and make financial benefits out of it. Cricket will not survive without money. not even any sport. We are not winning at Olympics because there is not enough investment and money. If there are few cases, it is due to own investment. Please change your thinking.

  • DINESHCC on June 16, 2012, 6:17 GMT

    Hope the other franchises also to be dismantled so that cricket can be saved in India.

  • Ramakrish86 on June 16, 2012, 5:20 GMT

    Good news for Hyd. Change of mgnt would change the fate of Hyd. Hope another Hydi will get the DC soon.

  • Romenevans on June 16, 2012, 5:02 GMT

    I won't buy it even if it was for free...

  • on June 16, 2012, 4:20 GMT

    DC did not invest properly in player auction this year. They let go players like rohit sharma, kp, ojha, rp singh, harmeet, rao, suman, [local talent] etc after winning IPL2 and making to semis in IPL 3. Hard to believe being from Hyderabad, that there was not actual Deccan talent in the team.

  • bigdhonifan on June 16, 2012, 0:44 GMT

    Hello everyone. SRK is not the only owner of KKR. It is co owned by Jay mehta ( juhi Chawla's Husband)

  • Tamimfan on June 16, 2012, 0:03 GMT

    I remember they were looking for buyers after the first season too.. But no prospective buyer came forward at that time and the team went on to win IPL in 2009 and made it to the semis in the next season. Things can change quickly, so just trust your players....

  • on June 15, 2012, 22:55 GMT

    That's really sad. This demotivates the team. I know that DC hasn't been performing well over the past couple of years but that doesn't mean you go out and sell it! I mean, look at KKR! I heard that SRK was planning to sell the Kolkata Knight Riders because of their poor performance but look now. They just won IPL 5!! You never know, next year, it might be DC! You should never lose hope in your team. If they want to sell it because of a financial crisis or something, then it is ok. But other than that, I don't think they should sell the team on the basis that it isn't performing well.

  • the-anti-mule on June 15, 2012, 22:50 GMT

    i will take it for Rs 24.98

  • happy-go-lucky on June 15, 2012, 20:33 GMT

    I'll take it for Rs. 25. Ok 30 is my final offer. Take it or leave it.

  • EnglishCricket on June 15, 2012, 19:48 GMT

    @zaman12456... If what you say is true then I doubt anyone will buy it and make such a foolish decision.

  • on June 15, 2012, 18:15 GMT

    disappointing news for dc fans like me :'(:'( we had our moments with the cup in ipl 2 and ipl 3 semis :-)

    hope some one frm hyd buys the shares and not some outsiders

    hope it wont end up like kochi tuskers kerala !!

    dc rocks :-)

  • on June 15, 2012, 16:47 GMT

    Well - that Deccan Chronicle was trying to exit the IPL was quite clear from the way they went about the auctions in 2012. But a wrong time to be scouting for buyers - market ain't that great!

  • on June 15, 2012, 15:41 GMT

    is it possible to change the name of the team if some one else buys the team completely ?

  • on June 15, 2012, 15:36 GMT

    Just sell the whole team .. LOL

  • zaman123456 on June 15, 2012, 15:36 GMT

    when a team doesn't perform well you have to sell it, no point of keeping it because financially it is a flop

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  • zaman123456 on June 15, 2012, 15:36 GMT

    when a team doesn't perform well you have to sell it, no point of keeping it because financially it is a flop

  • on June 15, 2012, 15:36 GMT

    Just sell the whole team .. LOL

  • on June 15, 2012, 15:41 GMT

    is it possible to change the name of the team if some one else buys the team completely ?

  • on June 15, 2012, 16:47 GMT

    Well - that Deccan Chronicle was trying to exit the IPL was quite clear from the way they went about the auctions in 2012. But a wrong time to be scouting for buyers - market ain't that great!

  • on June 15, 2012, 18:15 GMT

    disappointing news for dc fans like me :'(:'( we had our moments with the cup in ipl 2 and ipl 3 semis :-)

    hope some one frm hyd buys the shares and not some outsiders

    hope it wont end up like kochi tuskers kerala !!

    dc rocks :-)

  • EnglishCricket on June 15, 2012, 19:48 GMT

    @zaman12456... If what you say is true then I doubt anyone will buy it and make such a foolish decision.

  • happy-go-lucky on June 15, 2012, 20:33 GMT

    I'll take it for Rs. 25. Ok 30 is my final offer. Take it or leave it.

  • the-anti-mule on June 15, 2012, 22:50 GMT

    i will take it for Rs 24.98

  • on June 15, 2012, 22:55 GMT

    That's really sad. This demotivates the team. I know that DC hasn't been performing well over the past couple of years but that doesn't mean you go out and sell it! I mean, look at KKR! I heard that SRK was planning to sell the Kolkata Knight Riders because of their poor performance but look now. They just won IPL 5!! You never know, next year, it might be DC! You should never lose hope in your team. If they want to sell it because of a financial crisis or something, then it is ok. But other than that, I don't think they should sell the team on the basis that it isn't performing well.

  • Tamimfan on June 16, 2012, 0:03 GMT

    I remember they were looking for buyers after the first season too.. But no prospective buyer came forward at that time and the team went on to win IPL in 2009 and made it to the semis in the next season. Things can change quickly, so just trust your players....