India's cricket board Sunday invited bids for a new team in the Indian Premier League after it expelled the cash-strapped Deccan Chargers team from the tournament. The franchise was terminated last month over a number of violations including non-payment of players' fees.
Owners Deccan Chronicle Holdings Limited failed to meet a Friday deadline to submit 19 million dollars as guarantee money following which the Board of Control for Cricket in India (BCCI) confirmed the team's termination Saturday.
On Sunday, the BCCI placed an advertisement in newspapers, inviting bids for a replacement. "Under this invitation to tender, the winning bidder will be granted to own and operate a new team which will compete in the IPL each year from and including 2013 onwards," BCCI, which owns the lucrative tournament, stated.
The ad said the team can be chosen from 12 Indian cities as their home, including Hyderabad, where the Deccan Chargers were based. The Chargers won the championship in 2009 and had star players like Kumar Sangakkara of Sri Lanka and pace bowler Dale Steyn from South Africa.
According to media reports, the Deccan Chronicle group - that paid 107 million dollars for the franchise - has been hit by a financial crisis.
Top Indian and international players take part in the IPL, considered to be a leading tournament for Twenty20 cricket. Running since 2008, it is the world's richest cricket tournament and has a brand value of 3 billion dollars.