Deccan Chargers terminated from IPL

[mastermind_quad]

The Deccan Chargers IPL franchise has ceased to exist, with its owners failing to produce, by the Friday evening deadline, the Rs 100-crore ($19 million) bank guarantee the Bombay High Court had set as the condition for the team's survival in the IPL. This effectively means that the BCCI's termination of the Chargers stands and it is free now to float a tender and invite bidders for the new franchise.

Friday's events bring the curtains down on Chargers' rollercoaster existence in the IPL, which they won in 2009 after finishing last the previous season. Their subsequent performances, though, were patchy - they finished fourth, seventh and eighth in the last three seasons. The last few months have been overshadowed by the owners' financial problems, which had led to the attempted sale of the franchise and finally its dissolution.

It is understood that DCHL sought a three-day extension of the Friday 5 pm deadline to furnish the guarantee but the court turned it down. DCHL's lawyers are also believed to have told the court that it was trying to "negotiate" selling the franchise to a private bidder.

It is not yet clear what will happen to the playing and support staff. Chargers were led last season by Kumar Sangakkara and coached by the former Australia batsman Darren Lehmann. The other notable overseas players include Dale Steyn, Cameron White and JP Duminy.

The development will, however, come as a shot in the arm for the BCCI, which is keen on a new franchise. At its marketing sub-committee meeting on September 13, a day after the Chargers' expulsion, the board had decided on a short-list of nine cities - not including Hyderabad - for the new franchise. But those plans had to be put on hold once DCHL went to court.

The BCCI had terminated Chargers' IPL contract on September 14 after what it called a "sudden change of stance by the franchise" regarding its commitments and the board's belief that any further extension of time to the franchise owners would "seriously prejudice the interests of the players."

The matter then went to court where on October 1, while delivering his final judgement in the case, Justice S J Kathawala had asked DCHL to comply with various undertakings in order for the franchise to return to the IPL fold. The conditions included clearing the player dues and other liabilities for the fifth season of the IPL, and also the bank guarantee, only from a nationalised bank.

On Tuesday, DCHL sought a three-day extension to provide the guarantee, and was given till 5 pm on Friday.

http://www.espncricinfo.com/india/content/current/story/586468.html

 

[Ahson8]

 

[musama]

Hahahahaha what are they trying to do???

 

[kingkhan1996]

Deccan chargers were rubbish anyway in IPL .. always loved KKR because of Sharukh and gambhir and yusuf pathan(when he was there)

 

[avidlearner]

So the news of some Mumbai based Real estate magnet buying Deccan proves false then.

Rumors are that Ahmedabad may end up being the new city replacing Hyderabad.

 

[Green Leopard]

And to think there was some India poster on another thread the other day convincing everyone all is well with IPL, and how someone will pay more than the asking price for Decan Chargers.

 

[Executioner]

I think its more like that no1 is interested in hydrebard, rather one in some other part of the country

 

[Sandeep]

Hyderabad meri jaan! But it's good to see Deccan Chronicle not representing us anymore! They've taken the pride of the city to dogs

 

[cricketjoshila]

well Kamla Landmarc agreed to buy the franchisee for 1000cr.But BCCI insisted that DHCL deposit rs 100cr as Bank gurantee and the court asked the same.Only if those idiots of DHCL had done this deal few days back all would have been well.Anyways.Now we will see a new team,new city.Yess....

 

[avidlearner]

Hyderabad meri jaan! But it's good to see Deccan Chronicle not representing us anymore! They've taken the pride of the city to dogs

Who can forget that dreadful "One and two and three and four, Deccan Chargers We Want more" chanting in PSA

 

[AamchiMumbaikar]

Even for Test matches Hyderabad gets good crowds, loss for BCCI n Hyderabad people. Will miss the pretty lady who used to cheer them in every match

 

[GAMER]

Any news about local team to replace deccan chargers from vizag or hyderabad,DC were good but just ****ed up after gilly was left but some sweet memories supporting it during 2009 bye DC need a new team for us.

 

[PB]

It be so awesome if we had Lahore Badshahs in IPL....But with different and current players

Viewership would be up.

 

[Austin 3:16]

Very sad...a good team with even better team song Listen to this...mindblowing
http://www.youtube.com/watch?v=H0FgN5Dr_F8

 

[Eagle_Eye]

Vijay maliya is now bouncing cheques..... RCB in trouble soon?

 

[90MPH]

Very Sad, I'm shedding some tears as I type.

 

[Austin 3:16]

Very Sad, I'm shedding some tears as I type.

You must...a lose to IPL is a loss to cricket world.

 

[cricketjoshila]

Vijay maliya is now bouncing cheques..... RCB in trouble soon?

KingFisher's cheque to GMR bounced.Btw just fount out that RCB is not personally owned by Mallaya but by one of his big liquor companies which is profit making.

 

[IgnitedMind]

Hey I think there is still a chance.....I heard that they have extended to a 3 day dead line..and a company is ready to buy the franchise for a 1000 crores....the problem was with the 100 crores bank guarantee..

read this

http://timesofindia.indiatimes.com/...p-over-to-arbitrator/articleshow/16788918.cms

 

[Sandeep]

But I'm not sure the franchise would stay in Hyderabad, even if it's sold! There are many big entrepreneurs in AP but none of them seem to be interested in DC...

 

[Saj]

From the BCCI :-

The termination of Deccan Chargers franchise was challenged in the Hon’ble Bombay High Court by the DCHL pending the arbitration. A Conditional Order of stay was granted by the Hon’ble High Court pending arbitration on 1st October 2012. The condition to give BCCI a Bank Guarantee of a Nationalized Bank for ` 100 Crores by 5.00 p.m. on 12.10.2012 to cover expenses of IPL – 6, was breached by DCHL.

Notwithstanding the Hon’ble High Court’s refusal to extend time to DCHL, the Learned Arbitrator passed the Order of Status quo last evening (12.10.2012).

BCCI moved an appeal against the Order of Arbitrator and the same was heard today morning. The Hon’ble High Court was pleased to stay the Order of Arbitrator after hearing both the parties.

Thus, the termination of DC Franchise stands.

 

[AFG_Brit]

decan charges franchise has been sold.

The troubled Indian Premier League (IPL) cricket team Deccan Chargers has been sold to a Mumbai-based real estate company for an undisclosed sum.

The Deccan Chronicle Holdings Limited said they decided to sell the Hyderabad-based franchise after their board of directors met on Thursday.

In September, the team had failed to find a buyer after it rejected the only bid it received.

Deccan Chargers had won the championship in 2009.

But since then, the team has performed erratically - it finished eighth among nine teams last season.

The owners had paid $107m (£67m) for the franchise in 2008.

On Friday, they informed the Indian stock exchanges of their decision to sell the team to the real-estate firm, Kamla Landmarc.

Last month, the Deccan Chargers was put on sale by its owners to tide over a financial crisis.

The IPL is considered to be the world's showcase for Twenty20 cricket.

Top Indian and international players take part, contributing to what is the world's richest cricket tournament.

Source: bbc.co.uk

 

[AZ]

maybe a comeback under a new name? Dhakan Chargers sounds good

 

[OMB]

IPL: Bombay HC quashes ₹8,000 cr Deccan Chargers arbitration ruling against BCCI

BCCI had been directed by the arbitration panel to pay the massive sum to the ex-IPL team it terminated in 2012


The Bombay high court has set aside the arbitration verdict in favour of Deccan Chargers, the former IPL champions terminated in 2012, that directed the Indian cricket board to pay the team owners more than ₹8,000 crore ( ₹4,800 crore plus taxes). The order comes as relief to BCCI, which has been fighting a series of legal cases following past decisions.

“We were strongly in disagreement with the merits of the arbitration award and look at the latest verdict as a significant legal victory,” a BCCI official said. “This comes on the back of our legal win in the World Sports Group arbitration matter.” Solicitor General of India, Tushar Mehta, represented BCCI in the case.

A single bench of the court has directed BCCI to pay ₹34 crore plus taxes, an amount due to Deccan Chargers, the 2009 IPL winners. BCCI had withheld this amount hoping for it to be adjusted from the balance of the franchise fee Deccan had to pay.

“The high court has set aside the arbitral tribunal’s award which means that the BCCI will not be liable to pay ₹4,800 crore. The order passed is appealable and therefore can be challenged in an appeal,” said Ashish Pyasi, associate partner Dhir & Dhir Associates, who has represented Deccan Chargers in the past.

BCCI terminated the franchise agreement with Deccan Chronicle Holdings Limited (DCHL), owners of Deccan Chargers, by a written notice on September 14, 2012. It had charged the Hyderabad team with failure to clear players’ dues, saying it had an adverse effect on IPL’s reputation.

The court had granted interim stay of the termination, asking DCHL to furnish an irrevocable and unconditional bank guarantee of ₹100 crore. When DC failed to pay up by the deadline, the stay was vacated and the termination came into effect on October 12, 2012.

BCCI then sold the Hyderabad franchise to Sunrisers Hyderabad for ₹425 crore ( ₹85 crore/year) through an auction. DC, one of the original eight franchises when IPL was launched in 2008, had joined the league paying $107 million (10 years). They won the title in South Africa under Adam Gilchrist.

Last July, an arbitration tribunal had found the termination “premature and illegal”, directing BCCI to pay up the huge sum, which was the perceived valuation of the team if it existed then.

https://www.hindustantimes.com/cricket/ipl-bombay-hc-quashes-8-000-cr-deccan-chargers-arbitration-ruling-against-bcci-101623834790363.html

 

[Varun]

Didn't this team win an IPL once?

The edition held in South Africa I think.

 

[marlonbrowndo]

The only IPL I watched was 2009 because Adam Gilchrist was my favourite cricketer of all time (and still is). I watched it from start to finish and supported the Deccan Chargers throughout and it felt amazing when they ended up winning.

 

[The cricket enthusiast]

The only memory i have of this team is because of Shahid afridi , Gilchrist & our Hitman Sharma

 

[Bhaijaan]

Gilchrist, Symonds, Afridi, Hitman etc

They had some offensive firepower.

 

[Ab Fan]

Didn't this team win an IPL once?

The edition held in South Africa I think.

Yup. The one in which Manish Pandey hit a hundred for RCB. Those days T20 hundreds were not too easy to come.

Sehwag's Delhi Daredevils were one of the favourites of that year but one of their main bowler who did great that year had an off-day in semis when Gilchrist took him apart.