Sun TV Network has won the Hyderabad Franchise for an amount of 85.05 crore per year. This Franchise fee represents a premium of over a 100 % above the amount paid by Deccan Chronicle Holdings (DCHL) for the Hyderabad Franchise in 2008. The IPL Governing Council met on Thursday to open the bids for the new IPL franchise and Sun TV was found to have the highest bid amount. PVP Ventures had the second highest bid at 69.03 crores. According to a report by The Hindu, BCCI had kept the base price for the bid at Rs 60 crore, per year. Interestingly, the previous owner of the Hyderabad franchise, Deccan Chronicle holdings, had bought the franchise for Rs 428 crore in 2008 for a period of 10 years. Previous developments: In June 2012, plagued by financial troubles, Deccan Chronicle had first announced that multiple parties had expressed interest in acquiring a stake in Deccan Chargers, following which it had appointed Religare Capital Markets as advisers. In September, a tender was formally floated by Deccan Chronicle Holdings, offering control of the franchise to a successful bidder on an “as is where is” basis, to allow banks to recover part of loans given to the company. On 15th September, the BCCI terminated Deccan Chargers from the IPL, since it had not payed salaries to cricketers part of the team. Deccan Chronicle had approached the Bombay High Court, which the BCCI to maintain status quo on the matter till 24th September, the date of the next hearing. On September 25, Yes Bank, the bank supporting Deccan…
