MUMBAI: Sun TV Network has named its Hyderabad IPL team Sun Risers.

The official logo of the new team will be unveiled in Hyderabad on 20 December.

The company had recently awarded the creative duties of its team to JWT India. The account will be serviced out of the agency?s Chennai office.

JWT will handle the entire launch communication package which includes developing a new identity for the team including jersey colours and a 360 degree multi-media campaign.

Sun had retained 20 players in their initial squad for the 2013 season which included six overseas players. It had spent $5 million on retaining players out of its purse of $7 million.

Sun TV had in October bought the Hyderabad IPL team for Rs 4.25 billion for a period of five years till 2017. From 2018, Sun will own the franchise in perpetuity and will pay 20 per cent of the franchise revenue every year as fee to the BCCI.

The auction was necessitated after the termination of the erstwhile Hyderabad team Deccan Chargers owned by debt-ridden media company Deccan Chronicle.