Breaking: Deccan Chargers contract terminated

The BCCI tonight terminated the contract of the debt-ridden Deccan Chargers, bringing an end to the suspense on the fate of the beleaguered franchise. The champions of the 2nd edition of the IPL will not be featuring in the next edition of the T20 extravaganza.

Gayatri Reddy, the owner of the Deccan franchise also tweeted:

One of their former star players Pragyan Ojha, who now plays for the Mumbai Indians also tweeted:

The decision to terminate Deccan’s contract was taken at an emergency governing council meeting of the IPL in Chennai. The BCCI President N Srinivasan took the final call to end Charger’s contract after discussing the issue with other member.

BCCI’s working committee will again meet tomorrow to decide whether a fresh tender for a new IPL team could be issued. This may allow PVP Ventures, a Hyderabad-based urban infrastructure and film production company, to take charge of the team.

“This option would be discussed when the governing council meet tomorrow as we want nine teams to take part in the next edition of the IPL” the source said.

Deccan Chronicle Holdings, the owner of Deccan Chargers, earlier received a bid of Rs. 900 crore by PVP Venture Capitals but surprisingly rejected it at the auction as they considered the price and terms unsuitable. This recent development now brings PVP back into the picture now.

My apology to all fans of team Deccan Chargers as we will no more be a part of IPL. Our team has been terminated from #IPL Bye Bye to all :)

— Gayatri Reddy (@GayatriReddyDC1) September 14, 2012

Got the news about Deccan charger’s contract been terminated, so sad will definitely miss them . Had a lot of special memories in DC .

— Pragyan Ojha (@pragyanojha) September 14, 2012