BCCI terminates Deccan Chargers’ contract

BCCI has terminated the contract of the debt ridden Deccan Chargers, bringing an end to the suspense on the fate of the beleaguered franchise. The decision to terminate Deccan’s contract was taken at an emergency governing council meeting of the IPL in Chennai. BCCI president  Srinivasan took the final call to end Charger’s contract after discussing the issue with other members. BCCI working committee will decide the future course of action whether to float a fresh tender for a new team or allow PVP Ventures, a Hyderabad based urban infrastructure and film production company, whose Rs. 900 crore bid was rejected by Deccan at the auction on Thursday, to take the team. Deccan Chronicle Holdings, the owner of Deccan Chargers, received a bid of Rs. 900 crore by PVP Venture Capitals but surprisingly chose to reject it at the auction, as it considered the price and terms unsuitable.