MUMBAI
(NNN-PTI) -- Sun TV Network on Thursday won the Hyderabad
The
IPL Governing Council met here 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.
In
an effort to attract more bidders, the BCCI had kept the base price at a
reasonable Rs. 60 crores per year. Deccan Chronicle Holdings Limited had bought
the Hyderabad
Chennai-based
Sun TV Networks Limited is one of India 's
biggest television networks with 32 TV channels and 45 FM radio stations
primarily catering to an audience in the four southern languages of India
The
BCCI had floated the tenders for a new IPL franchise after terminating Deccan
Chargers' contract on Sept 15 but the team owners DCHL had challenged it at the
Bombay High Court.
The
High Court had ruled in favour of the BCCI after Deccan Chargers Holdings
Limited failed to furnish bank guarantee of Rs 100 crore before October 12, 5pm
deadline.
Later,
an arbitrator had ordered for status quo but the High Court again ruled in
favour of the Board. -- NNN-PTI
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