According to investment banking sources, the Gujarat-based Adani Group is close to acquiring IPL 2009 winner Deccan Chargers for $280-300 million, reported a television business news channel.
A top executive at a leading financial institution told a financial daily that the Adani-Deccan deal is almost complete.
Deccan Chronicle holds 80% stake in Deccan Chargers and had paid $107 million for the IPL franchise. It is not clear if Deccan Chronicle will sell out completely or reduce stake to become a minority shareholder. An outright change of ownership will see a change in team’s name as well, since ‘Deccan’ is used by the current promoters of Deccan Chargers.
The Deccan Chargers main players include Andrew Symonds, Chaminda Vaas, Herschelle Gibbs and others.
