NEW DELHI, (Reuters) – A Chennai-based media corporation has bagged the Hyderabad franchise of the Indian Premier League (IPL) Twenty20 tournament for an annual fee of $15.81 million, the Indian cricket board said yesterday.
The Sun TV Network made a bid significantly higher than the second highest offer of $12.83 million, Board of Control for Cricket in India (BCCI) secretary Sanjay Jagdale said in a statement after an IPL governing council meeting in Mumbai.
“This franchise fee represents a premium of over a 100 percent above the amount paid by DCHL (Deccan Chronicle Holdings Ltd) for the Hyderabad franchise in 2008,” he added.
Sri Lankan Kumar Sangakkara captained Deccan Chargers in the 2012 edition of the IPL but he and his players faced an uncertain future after the franchise was thrown out of IPL last month for non-payment of fees and other issues.
