Deccan sets as Sun TV rises
Like any other year, this one too had its highs and lows, moments that captured the imagination for contrasting reasons. Here's a lowdown on what happened in the world of cricket in 2012.
After months of speculation, the IPL’s Deccan Chargers franchise went under, and was put under the hammer as it failed to give the BCCI a bank guarantee, among other financial issues. The Chennai-based Sun TV Network bagged the franchise for Rs 85.05 crore a year, to be paid over the next five years and will now have a right to float their own team in IPL-2013. Deccan Chronicle Holdings Limited had bought the franchise in 2008 for Rs 428 crore. But their failure to provide Rs 100-crore bank guarantee led to the eventual termination of their contract. Deccan had earlier rejected a bid of Rs 900 crore from PVP Ventures.
