Sun TV wins Hyderabad IPL franchise
The Sun TV network has won the Hyderabad franchise of the IPL, bidding Rs 85.05 crores per year (around $15.9m) for a five-year deal. The decision was announced after a meeting of the IPL’s governing council in Mumbai on Thursday, and a week after Deccan Chargers, the original Hyderabad franchise, was terminated after failing to meet the deadline for raising its bank guarantee.
The other bidder for the franchise was PVP Ventures, who offered Rs 69.03 crores per year (around $12.9m). This was the second time PVP tried to buy the franchise, having failed last month as well with a bid of Rs…
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