The Board of Control for Cricket for India?s (BCCI) special general body meeting on Saturday decided to expand the IPL team by adding one franchise or more for the next season. The board, however, did not take any decision on terminating the Deccan Chargers franchise. After the Mumbai High Court intervened earlier in the day, BCCI has left it to the court to rule on the franchisee?s participation.
Bankers to the debt-ladden Deccan Chronicle Holdings Ltd (DCHL) are understood to have informed the BCCI that it could form a special purpose vehicle (SPV) to run a the team and have offered to pay R32 crore, part of the R90 crore of players? dues. However, sources said BCCI members were not keen on the new idea and have intimated their views to the bankers. The board is understood to have told both DC representatives and bankers that since the court is seized of the matter, it would wait till Monday, before taking any concrete action.
DCHL had moved the Mumbai High Court seeking a stay against the BCCI?s decision after Deccan Chargers? contract with IPL was terminated on Friday night. The court will hear the parties on Monday.
Meanwhile, sources said the BCCI has decided to add a new team in the sixth edition of IPL and as such, eight cities will be in fray when the bidding takes place. The winning bidder will have to accommodate the Deccan players for one year if the franchise is ultimately scrapped from the IPL. ?There was a feeling that it is ideal to have 10 teams. Even if DC survives, one more franchise could be accommodated,? sources said.
The BCCI meet was attended by N Srinivasan, Jagmohan Dalmia, Arun Jaitley and Rajiv Shukla, among others. ?The Court heard both parties, and did not pass any order staying the termination. The matter has been placed for hearing on Monday. The information that the termination of the franchise has been stayed is incorrect,? the release said.
Justifying the termination of Deccan Chargers, BCCI on Saturday said the decision was taken after deliberation. The BCCI was compelled to hold an emergency meeting of the IPL governing council late Friday evening to discuss the legal notice sent by Deccan Chargers saying that board should not act to terminate the franchise till Yes Bank furnished sufficient finance to cure the breaches.
The BCCI said despite the Bombay High Court appointing a court officer to act as observer at the opening of the tender, conducted under the aegis of the BCCI to save Deccan Chargers, DCHL had rejected the bid of Rs 900 crore ? Rs 450 crore cash and an equal sum in convertible debentures.