Indian Premier League side the Deccan Chargers were put up for sale on Thursday in the latest upheaval for the money-spinning Twenty20 tournament that has been dogged by ownership troubles. Deccan Chronicle Holdings, a media company, placed advertisements in newspapers inviting bids for the Hyderabad-based team to be lodged on September 13 with the new owners to be announced on the same day.
The rapid disposal of the Chargers has been widely blamed on economic pressure affecting its current owners, but it also reflects the stormy history of the IPL since it was founded in 2008. The Board of Control for Cricket in India (BCCI), which owns the event, threw the Kochi Tuskers out of the league last year over their failure to meet financial requirements.
A separate attempt to eject the Rajasthan Royals and Kings XI Punjab in 2010 over murky ownership disputes was blocked after a court battle. "The winning bidder will acquire... the right to own and operate the IPL team currently known as the Deccan Chargers which is and will continue to be based in Hyderabad," the advertisement said.