Adani Group to acquire Deccan Chargers franchise

Adani Group, a Gujarat-based conglomerate is ready to close the deal of acquiring Deccan Chargers for $280-300 million. Deccan Chargers, a franchise of IPL has won the 2009 cricket league with the help of its strong players like Andrew Symonds, Chaminda Vaas, Herschelle Gibbs and others.

Deccan Chronicle holds 80 per cent of the total stakes in the IPL franchise and has paid $107 million for it. However, it is not clear whether Deccan Chronicles is planning to reduce the percentage of the stakes or sell out its stakes completely. Accordingly, the name of the IPL franchise will be decided.