Owners mull stake sale in ‘Deccan Chargers’ IPL team
New Delhi(PTI): Deccan Chargers’ current owners Deccan Chronicle Holdings Ltd are considering selling their stake in the IPL team and have roped in investment bankers to find prospective buyers.
While there were no official words on the potential sale of the IPL team, which was IPL Twenty20 Champion in 2009, sources close to the development said that Religare Capital Markets has been given the mandate to find the buyers and conclude the deal.
When contacted, P K Iyer, Executive Vice Chairman of Deccan Chronicle Holdings, declined to comment. “(We have) no comments on market speculation,” Iyer told PTI over phone.
Officials at Religare Capital Markets were not available for their comments. Deccan Chronicle group had acquired the franchise for USD 107 million in 2008. The price at which the group is now willing to sell the team could not be ascertained.
After finishing last in the first season of the IPL, DC won the second season held in South Africa in 2009. The Hyderabad team is currently led by Sri Lankan cricketer Kumar Sangakkara.
DC’s sponsors include Emirates, Jaypee Cement, TVS, Puma and Coca Cola.