India’s top cricket league expelled a cash-strapped former champion just as reports surfaced a real estate company has purchased the squad.
A court upheld the termination of the Indian Premier League’s Deccan Chargers today after the team missed paying a $19-million guarantee on Friday.
The owners had tried to save the team by petitioning the court for an injunction, but the court refused to extend payment deadlines, AFP said.
“Thus, the termination of the franchise stands,” IPL secretary Sanjay Jagdale said on the league website.
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The court case over the team’s place in the IPL had dragged on for about a month, NDTV said.
There’s no announcement yet if the Board of Control for Cricket in India (BCCI) will replace the Chargers, owned by media company Deccan Chronicle Holdings.
The owners – who bought the team in 2008 for $107 million – can also appeal to a higher court.
The Chargers, who won the 2009 tournament but finished near the bottom this season, committed violations such as failing to pay players, AFP said.
On Friday, Deccan announced to the Indian stock exchanges that Mumbai’s Kamla Landmarc had purchased the franchise for an undisclosed amount, Reuters reported.
Local media said the sale price was about $190 million, according to AFP.
Deccan had rejected a $162-million offer in September, AFP said.
The league modeled itself after US and British pro sports, with aggressive marketing campaigns, TV contracts and merchandising.
However, the cricket board expelled the Kochi Tuskers last year and this season the IPL lost its title sponsor, DLF real estate, after five seasons.
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