Deccan Chronicle Holdings Limited (DCHL) has invited bids from buyers to take over Deccan Chargers, the IPL franchise. The sources said that Deccan Chargers franchise is facing financial crunch. Therefore, it has put forth its request to sell out the franchise before the BCCI working committee. The working committee, which met on Monday allowed the Deccan Chronicle to issue tender notice for selling its franchise. Accordingly, DCHL issued tender notices in the national dailies.

Deccan Chargers is a franchise based in Hyderabad. The franchise won IPL-2 season and in season three Chargers failed to live up to the expectations and lost five consecutive five matches after winning three matches. The team showed unsatisfactory performance even in 2011 and 2012 seasons.

Therefore, DCHL apparently decided to sell the franchise. The tender notice issued read that this was an invitation to tender issue by DCHL and the wining bidder would acquire IPL team Deccan Chargers from DCHL.

(AW Phani)