According to some reports, the 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 Cricket regulator will open the bid for the team, which won the tournament in 2009, today for bidders. The BCCI has set terms that the new owner will have to pay the entire amount upfront and will also take-over the liabilities of the team.

However, if none of the bidders meet the criteria set by the BCCI then the Deccan Chargers franchise will be scrapped and the BCCI will float a new tender for the formulation of an entirely new 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.