Sept 13 (Reuters) - Owners of the cash-strapped Hyderabad
franchise have rejected the one takeover bid they have received
for the Indian Premier League (IPL) team, the country's cricket
board (BCCI) said on Thursday.
Deccan Chronicle Holdings, which owns the Deccan Chargers,
put the Twenty20 team up for sale last week after getting the
nod from the cricket board.
"They informed us the price and terms were not suitable so
they did not accept it," BCCI president N. Srinivasan told
reporters in Chennai.
"The BCCI assisted the Deccan Chargers and we also looked at
the eligibility criteria, whether they were fit and proper.
"We found the party was acceptable to us. After that,
though, it was between Deccan Chargers and the bidder."
According to media reports PVP Ventures, a company which has
interests in real estate and also finances film projects,
submitted a bid of nine billion rupees ($162.4 million) to buy
the troubled franchise.
Deccan Chronicle paid $107 million in 2008 to bag the
franchise for 10 years.
The team finished last in the inaugural IPL but came back
strongly to win the next edition in South Africa in 2009.
The Chargers were second last in the most recent IPL
tournament that ended in May.
(Reporting by Sudipto Ganguly; editing by Tony Jimenez)