BREAKING: Sun TV wins bid for Hyderabad IPL Team

The Board of Control for Cricket in India (BCCI) has revealed that Sun TV has won the bid for the new team to replace Deccan Chargers in the Indian Premier League (IPL).

Sun TV’s bid, as reported by the BCCI was a whopping Rs. 85.05 crores per year for 10 years. PVP Venture’s bid, which was Rs. 69.03 crores, was a distant second.

Noida based Jaypee group and Hyderabad’s PVP Ventures were expected to be the frontrunners but it was SUN TV who eventually cliched the deal out of nowhere. This Franchise fee sees an increase of over a 100% above the amount paid by DCHL for the Deccan Chargers in 2008.

Sun TV is owned and run by Kalanidhi Maran, the nephew of DMK chief M Karunanidhi. It is one of India’s biggest television networks with 32 TV channels and 45 FM radio stations primarily for the audience in Southern India. Their network includes channels covering news, entertainment, film, documentary and music.