MUMBAI: Deccan Chronicle Holdings (DHL), the parent company of IPL franchise Deccan Chargers, is exploring possibilities of selling the franchise.

The media company, which runs popular English daily Deccan Chronicle, has mandated Religare Capital Markets to advise it on offers that have come for the Hyderabad based IPL team.

However, it could not be ascertained whether Deccan is looking at a minority, majority or an outright sale. The prospect of a complete exit cannot be ruled out since a Deccan Chargers official had earlier told Indiantelevision.com that the parent company was game for it provided the value is right.

?Deccan Chronicle Holdings has been approached by multiple parties evincing interest in acquiring stake in Deccan Chargers and the company has appointed Religare Capital Markets to run a process and advise us of suitability of the offers,? DCH said.

The company, however, clarified that the ?the above step is only exploratory and no conclusive or firm decision has been taken on the issue.?

When contacted, Deccan Chronicle Holdings vice chairman PK Iyer refused to get into the details. ?I don?t have any comments to make on the matter," he said.

This is not the first time that DCH has mandated an investment bank to find suitors. In 2008, DCH had appointed KPMG Corporate Finance and was looking at a valuation of $250 million including the option to exit at the right price.

However, the company had to put the franchise sale on slow burner since it did not find many takers at that price which only accentuated with the economic slowdown of 2009.

Deccan Chargers Sporting Ventures, a wholly owned subsidiary of DHL, had bought the franchise rights of Hyderabad IPL franchise for $107.01 million which was payable over a 10-year period.

IPL teams have often been in the news for being approached by investors who see business opportunity in the cash rich league despite the fall of its brand value due to controversies surrounding it.

Rajasthan Royals and Kings XI Punjab have also reportedly been on the lookout for buyers, though the teams have refused to talk about it publicly.

Recently, Kolkata-based Jain Group was said to be in talks with Royals to acquire the franchise at a valuation of $200 million. However, things did not materialise and the deal fell through.

Similarly, Punjab team was in 2010 approached by Videocon Group to buy the franchise whose investors include Dabur?s Mohit Burman, Wadia Group?s Ness Wadia, actress Priety Zinta, and Karan Paul of Apeejay Surendra Group.

It is believed that the two franchises have to get BCCI?s permission to sell stake since the both are currently in arbitration with the cricket board.

The BCCI had in 2010 terminated franchise agreements of the two teams. However, both were successfully reinstated after legal battle.

Incidentally, Videocon Group couldn?t manage to get an IPL franchise as the bidding process to identify the two new teams was cancelled. The company was keen on Pune franchise which is currently owned by Sahara Group.

Also Read:

Deccan Chargers mandates KPMG to find suitor, eyes $250 million valuation

MUMBAI: IPL franchise Kings XI Punjab is approaching the season 5 of the IPL with a brand new logo, which reflects the qualities of the team.

Commenting on the launch, KXIP COO Col. Arvinder Singh said: ?This new look logo is more vibrant, contemporary and user friendly. It embodies the essence of the ethos that Kings XI Punjab stands for.?

The new KXIP is all about winning, a determination reflecting in every aspect of the franchise?s new logo. The shield signifies the strength of character and fortitude of the conqueror - the qualities entrenched in each player of KXIP.

The KJHPH band in the logo represents Jammu & Kashmir, Himachal, Punjab and Haryana and symbolises the effervescent and resilient spirit of the people of these regions.

MUMBAI: IPL franchise Kings XI Punjab has announced the appointment of Adam Gilchrist as the Captain-cum-Coach for the fifth season scheduled to start on 4 April.

Gilchrist will bear the additional responsibility in his new role of mentoring as well as leading the team, both on and off the field.

Kings XI Punjab COO Col Arvinder Singh said, ?Adam is a natural leader involved in all aspects of running a successful campaign in the IPL. Hence, this is only a natural progression of his increased role within the franchisee. Appointing him as a coach-captain gives us an added advantage as he shall also be fully involved in all cricketing activities of the franchise outside of the IPL Season and hence have a major role in shaping the future of Kings XI Punjab team in the years to come."

Gilchrist will be assisted by assistant coach Vikram Rathore, physiotherapist Patrick Farhart, fielding coach Mike Young and bowling coach Joseph Henry Dawes.

MUMBAI: As part of its engagement with fans for the upcoming IPL season, Kings XI Punjab has tied up with Indraprastha All India Sports Foundation for its talent search based reality ?Cricket Champs".

The show that aims at providing a platform for budding cricketers to showcase their talent in front of millions of viewers will be aired by UTV Bindass.

Since the reality show is being powered by Kings XI Punjab, a number of players from the franchisee shall also form part of the proceedings. These players would render their view points on player selection, ability, tasks, game strategy, etc.
 
Speaking on the initiative, KXIP COO Col. Arvinder Singh said, ?Kings XI Punjab has always been at the forefront of unearthing fresh cricketing talent. Our association with the venture aims to provide these young guns with a platform to perform. I wish the participants all the very best and am sanguine that we should be able to spot ?real talent? whom we shall help groom for their future cricketing endeavors.?

A total of eight teams from Bihar/Jharkhand, Uttar Pradesh, Rajasthan, Delhi, Mumbai, Chennai, Bangalore/Hyderabad, and Haryana comprising 15 players each will participate in the show.

The fate of these players will later rest in the hands of the public/viewers, who can choose their favourite captain out of the three for each team through national voting.

The team which emerges as the winner would be awarded with the National Trophy and a cash prize of Rs 1 million. Besides, top 10 cricketers would get a chance to get training with Kings XI Punjab players and an opportunity to play first class cricket.

MUMBAI: IPL franchise Kings XI Punjab has announced that wicket-keeper-cum-batsman Dinesh Karthik has been traded with Mumbai Indians for the coming IPL season in 2012. 

Kings XI Punjab COO Col. Arvinder Singh said, ?Dinesh was an integral part of KXIP last year and displayed an exemplary performance. However, we feel that his talent as a wicket-keeper cannot be harnessed here as we already have a specialist wicket-keeper in our able captain, Adam Gilchrist".

Kings XI Punjab had acquired Dinesh at $900,000 during the auction in 2011 and have traded him with Mumbai Indians for a sum of $2.35 million. "We are also pleased to welcome Rajgopal Satish in to our team and are sanguine that he shall beef up our middle order in the coming season," the IPL team said.