Sun TV Network wins Hyderabad IPL franchise on Thursday for Rs 85.05 crores per year. After dismissing Deccan Chargers BCCI opens the bids for the NEW IPL team and sun TV manages to top the bidding process.
PVP Ventures who earlier tried to buy Deccan Chargers for 900 crores for ten years offered Rs 69.03 crores per year for the new franchise.
To attract more bidders BCCI lowered the bidding price to 60 crores per year. In the first 2008 auctions Deccan Chronicle Holdings Limited bought Hyderabad IPL team for Rs 448 crores for 10 years.
Sun TV has 32 channels and 45 FM radio stations and a DTH service under its network and is one of the India’s biggest television networks.
BCCI has given the option to Sun TV to retain any of the players that they wish to have in the new franchise. Those players who are not selected will go to the common auction pool. All other IPL teams will also have to inform BCCI about the players that they want to retain for the sixth edition of the game.
The sixth edition of IPL will commence in April 2013.