India’s cricketing body, BCCI has terminated the contract of Deccan Chargers franchise, which is based out of the southern city of Hyderabad.

Deccan Chronicle Group might be planning to sell the franchise of Hyderabad based IPL team, the Deccan Chargers. The company will sell the team ownership to a party that complies with the all the conditions set by the BCCI. Several players are interested in buying the team and electronic giants Videocon, Actor Salman Khan, the RPG Group and the Adani Group have already submitted their bid for the team.

The sale of the franchise is another bad news for the fans of the team that finished second last in the tournament.

The Deccan Chronicle Group is aiming to sell the tram in order to restructure its debt. The lenders of the group recently deferred a decision to consider a proposal of corporate debt restructuring (CDR) for loans.