The Indian Premier League Franchise the Deccan Chargers have been terminated by the BCCI after they called a emergency league governing meeting on Friday. According to senior BCCI staff a new franchise will be issue on Saturday. The Deccan Chargers have really struggled as a franchise financially and playing-wise with their only bit of success in winning the 2009 IPL.
This issue has been going on for 3 months ever since the Deccan Chargers ran into financial problems including the payments of players and so forth. The BCCI set a deadline for the owners of the franchise the Decca Chronicles Holdings Limited to pay all dues but they have refused to so the BCCI have had no choice but to terminate it. Both parties agreed to putting the team up for sale and one bid came from PVP Ventures for $164Million but was rejected by Deccan. It now seems that the BCCI will now allow PVP another chance to buy the team.