Videocon Group expresses interest in buying Deccan Chargers

The Board of Control for Cricket in India (BCCI) working committee on Monday had decided to allow Deccan Chronicle Holdings Limited to go ahead and issue tender notice for the sale of their franchise Deccan Chargers AFP

By CricketCountry Staff

Hyderabad: Sep 7, 2012

The chairman of the Videocon Group, Venugopal Dhoot has expressed interest in bidding for the Deccan Chargers franchise after the Deccan Chronicle Holdings Ltd (DCHL) decided to issue a tender to invite bids for a prospective buyer.

Dhoot was quoted by Times of India as saying, “”Yes, we are interested and will place our bids for buying out Deccan Chargers. It’s a good fit for our brand and will be used to connect to our consumers.”

The owner of the $4 billion group had earlier bid for the Pune franchise, which was eventually won by Sahara Group.

The chairman of the Videocon said the purchase of the Indian Premier League (IPL) franchise was a part of the branding exercise for his company.

According to the report in the newspaper, the deal could be worth Rs 800 crore, which is 60 % less the Rs 1,200-crore valuation of the franchise done by DCH and BCCI.