By BV Swagath
The Sun TV Network, a huge television network controlling most of the entertainment in South India has won the bidding for the new Hyderabad Franchise in the Indian Premier League. As we know, the original Hyderabad franchise was the Deccan Chargers which was owned by the Deccan Chronicle holdings. The Deccan Chargers ceased to exist following the company’s losses. The Sun TV bought Hyderabad Franchise could have a new name soon before entering into the IPL Season 6.
Following is the BCCI Media release as signed by Hony. Secretary Sanjay Jagdale:
The IPL Governing Council met earlier today in Mumbai to open the bids for a new IPL Franchise.
SUN TV Network have won the Hyderabad Franchise for an amount of `. 85.05 crores per year.
This Franchise fee represents a premium of over a 100 % above the amount paid by DCHL for the Hyderabad Franchise in 2008.
The SUN TV Network bid was substantially higher than the second bid of PVP Ventures, which was `. 69.03 crores.