Business Line 6 September 2012
Deccan Chronicle Holdings Ltd (DCHL) today issued a tender notice inviting bids from prospective buyers for its IPL franchisee Deccan Chargers, which is currently in a financial mess.
The Indian cricket board’s (BCCI) working committee on Monday decided to allow DCHL to go ahead and issue tender notice in the leading national dailies.
According to the tender notice, “under this invitation to tender issued by DCHL, the winning bidder will acquire from the DCHL 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 and which competes in the Indian Premier League and which has the opportunity (if applicable and subject to qualification) to compete in each and any CLT20 which is staged from 2013 onwards“.
The term “as is where is” means that the new buyer will have to use the name Deccan Chargers and will have to clear the liabilities of the current owner.