The BCCI began its search for a new franchise with advertisements in newspapers on Sunday in which it gave the option of bidding for any of 12 city teams including Hyderabad, which the Chargers represented in India´s domestic Twenty20 tournament.[break]
Cash-strapped Deccan Chargers was axed as it failed to furnish a bank guarantee of $19 million as asked by an Indian court which it had approached in a bid to stay in the league. The franchise had asked for more time to deposit the money but the Bombay High Court refused, leading to its termination on Friday.
Deccan Chargers is the second team to be axed from the IPL after Kochi Tuskers, which was scrapped last year for failing to make its annual payment after just one year in the league in 2011.
The IPL, which is looking for a new title sponsor after the $50 million deal with realty company Delhi Land and Finance was not renewed, has a troubled history with other franchises too.
Pune Warriors, which was added two years ago along with Kochi to the original eight teams, announced earlier this year it was withdrawing from the IPL before it reached a compromise with the BCCI.
The IPL is also involved in court cases with the Rajasthan Royals and Kings XI Punjab, which were scrapped two years ago over a breach of ownership rules before being readmitted on a court order, pending a final verdict.
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