A Chennai-based media corporation has bagged the Hyderabad franchise of the Indian Premier League Twenty20 cricket tournament for an annual fee of $19 million.
The franchise fee by the Sun TV Network is double what was paid in 2008.
Sri Lankan Kumar Sangakkara captained Deccan Chargers in the 2012 edition of the IPL but he and his players faced an uncertain future after the franchise was thrown out of the IPL last month for non-payment of fees and other issues.
The new owners, engaged in producing and broadcasting satellite television and radio software programming in the regional languages of south India, are yet to announce the new name for the franchise.
