The Telegraph
Saturday , September 15 , 2012
Since 1st March, 1999
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DC contract terminated

Calcutta: The Board of Control for Cricket in India (BCCI) 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 the Chargers’ contract, according to a BCCI media release, was taken at an emergent Governing Council meeting of the IPL, in Chennai, on Friday.

Narawanswamy Srinivasan, the BCCI president, took the final call to end the Charger’s contract after discussing the issue with other governing council members, a top BCCI official said.

The Board’s working committee will meet on Saturday to decide the future course of action.

The committee will decide 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 buy 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.

The late night development comes as a setback for the Chargers, who were trying to resolve its financial problems ahead of Saturday’s 5pm deadline.

Apart from working committee meeting, there are also three other meetings — Special General Meeting, IPL governing council meeting and the marketing committee meeting — scheduled for Saturday.

Of the four, the SGM is expected to be shortest and should be over in about half-an-hour’s time. Convened specifically to consider two proposals — increasing the tenure of BCCI officials and to do away with the zonal system of electing presidents — it’s just a formality to ratify those.

The Telegraph, on August 23, had reported that the Board is moving towards doing away with its presidency being rotated on a zonal basis. A follow-up report the very next day added that Shashank Manohar came out of ‘retirement’ to play an active role in pushing through the significant change in the Board’s constitution.

Though the BCCI officials did not spell out the reasons, it is widely perceived to be a move to pave the way for transfer of presidential powers to Arun Jaitley, who heads Delhi and District Cricket Association and is a senior BCCI vice-president representing the North zone. As per the rotational policy, Jaitley needs to wait till North Zone’s turn comes, as it is East’s turn to take over the presidency from incumbent Narawanswamy Srinivasan in 2014.