MUMBAI: Conglomerate Videocon Industries will bid for the purchase of the IPL franchise Deccan Chargers, the company's chairman and managing director Venugopal Dhoot told Indiantelevision.com.
"We are interested in buying the franchise," he added.
financially stressed Deccan Chronicle Holdings Ltd, the parent
company which owns Deccan Chargers, issued a tender today
inviting bids to purchase the Hyderbad IPL team under the
aegis of BCCI.
Is Rs 6.5 billion a realistic price range? "Yes, this
seems to be a reasonable value," Dhoot said.
As per the tender notice, bidders will be required to enter into a new franchise agreement with BCCI.
The purchase consideration will be paid into a bank account as decided by the lending banks, with 5 per cent payable directly to the BCCI.
The bid amount will have to be paid into a bank account of banks as decided by the lending banks with 5 per cent payable directly to the BCCI.
The winning bidder will acquire from Deccan Chronicle Holdings 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, the tender notice read.