Owners ready to sell stake in Deccan Chargers at the right price

Deccan Chargers finished at the bottom of the eight-team IPL in 2008, but won the title next year © AFP

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By CricketCountry Staff

Hyderabad: Dec 5, 2011

Owners of Indian Premier League team Deccan Charges, are ready to sell off a stake in the team but are unwilling to reveal the entity or entities interested in buying.

PK Iyer, managing director of Deccan Chronicle, has admitted that if the right amount is offered, they will go ahead with and sell stakes in Deccan Chargers.

“Unlocking value is always on the radar at the right price. We are ready and happy to unlock the value through either strategic or equity sale. After holding these assets for such a long time, we are keen that these values get unlocked,” Iyer told CNBC-TV18.

However, Iyer did not commit himself on the speculation.

“I won’t comment on market speculations about stake sale being around the corner, but we have been always working towards finding ways of unlocking value in the assets,” he told the channel.

According to reports, Deccan Chargers could have already sold some stakes and the figure could be Rs.600 crore. This, however, could not be confirmed independently.