Media company SUN TV bough Indian Premier League side Deccan Chargers for 85.05 crore per year following the stripping of the contract of the cash-stripped Deccan Chronicles Holdings Limited (DCHL).
The IPL Governing Council met at Mumbai on Thursday to open the bids for the new IPL franchise and Sun TV was found to have the highest bid amount."SUN TV Network have won the Hyderabad Franchise for an amount of Rs 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," BCCI Secretary Sanjay Jagdale said in a release.
"The SUN TV Network bid was substantially higher than the second bid of PVP Ventures, which was Rs 69.03 crores," Jagdale said.