IPL news September 7, 2012

Videocon Group show interest in Deccan Chargers

ESPNcricinfo staff

The Videocon Group, an Indian conglomerate, has expressed interest in buying Deccan Chargers from its owners Deccan Chronicle, the first potential buyer to openly declare its position. The franchise had formally been put up for sale on Thursday with the owners in the middle of well-publicised financial issues.

Videocon have wanted to own an IPL team for a few years now, having lost out to the Sahara group in bidding for the Pune franchise in 2010. "We are interested and will place our bids for buying out Deccan Chargers," Venugopal Dhoot, the chairman of the electronics-to-energy Videocon Group, told the Times of India. "It's a good fit for our brand and will be used to connect to our consumers."

Another report quoted Dhoot as saying he would bid around Rs 700 crore [approx $126mn]. Chargers was bought by Deccan Chronicle for $107mn in the first IPL team auction in 2008, which made it the third-most expensive franchise, after Mumbai Indians and Royal Challengers Bangalore, at the time.

Bidding for Chargers, under the aegis of the BCCI, closes on September 13, with the winning bid to be announced on the same day. The notice inviting bids states that the franchise will continue to be based in Hyderabad. Dhoot, however, was quoted in the Business Standard as saying that if Videocon make the winning bid, they would like Chargers to be shifted to Ahmedabad, if the BCCI allows it.

Deccan Chronicle are facing pressure from their lenders, having also mortgaged Chargers to banks as security against debts, and have had to put the franchise up for sale to raise funds. They had been trying to sell the franchise, in whole or part, for some time now, with T Venkattram Reddy, the Deccan Chronicle chairman, telling the Economic Times recently that they were in advanced talks with potential buyers. But the deal reportedly faced complications, with some investors in the franchise asking the board to get involved.

Comments have now been closed for this article

  • Deccan on September 9, 2012, 16:55 GMT

    I think the team will be allowed to shifted to ahmadabad because even in 2010 when 2 new teams were put in auction, governing council had allowed owners to pick any city of their choice.(pune, kochi) so the team will move to ahmadabad if videocon wins it. it would also be nice if ipl allows the champion of bpl ( dhaka gladiators ) to participate as 10th team in ipl. -from a bangladesh fan.

  • Eshwar on September 8, 2012, 16:09 GMT

    Home base should remain the same. Irrespective of their ridiculous win record, Deccan has one of the highest following with most matches played in packed stadiums. If interested for another city, buy a new franchise.

  • Deepak on September 8, 2012, 16:02 GMT

    Ahmedabad, and the state of Gujarat as a whole, truly deserves an IPL team of its own. They can even play a couple of their home games in Vadodara, Surat and Rajkot too. I'm sure the fans will there will turn up in bigger numbers than Hyderabad/Vizag. Videocon will certainly be a much better owner than D.Chronicle. Its a good investment for them.

  • Dummy4 on September 8, 2012, 14:27 GMT

    very happy that these stupid owners are leaving and are are getting a new owners atleast who will LOOK AT THE FANS INTERESTS IN BUYING PLAYERS and make our hyderabad people to fell it as OUR OWN TEAM

  • Mohan on September 8, 2012, 11:39 GMT

    IMO. If Videocon buys entire share of the team then the Owner should have the rights to change the Name of the team n location.Gujarat has also produced some good cricketers for our country.It might also turn fortune to their favor.

  • Dummy4 on September 8, 2012, 6:50 GMT

    The name of the team wont change so the city does.

  • Dummy4 on September 7, 2012, 16:32 GMT

    Tem will stay in Andhra (Hyd, Vizag etc) irrespective of who buys it.

  • Dummy4 on September 7, 2012, 16:12 GMT

    If the headquarters for Deccan Chargers changes from Hyderabad to Ahmedabad, I will be extremely disappointed. I won't be watching IPL so passionately anymore.

  • Dummy4 on September 7, 2012, 15:43 GMT

    No problem when DC shift to any other city.......It is same as cochin tuskers.

  • Dummy4 on September 7, 2012, 15:20 GMT

    the requirement is by the former owners, which would not stand long legally.so shifting depends only on bcci and not whims on ex owners

  • No featured comments at the moment.