2009 Indian Premier League champions Deccan Chargers have been terminated as a franchise well in advance of the 2013 season.
The franchise was put up for sale after Deccan Chronicle Holdings Ltd had been unable to meet payment obligations and despite a sale going through, the Indian board (BCCI) has terminated their contract.
They had been given an extended deadline to come up with funds to secure their future and despite Kamla Landmarc taking over control of the franchise, they have failed to meet it.
The High Court rejected a request for an additional extension.
"Since the month of May, BCCI has received repeated assurances that the overdue player fees would be paid; all of these promises have been unfulfilled," a BCCI statement read in September, explaining the original termination.
"The Governing Council took note of the sudden change of stance by the franchise and also the fact that any further extension of time would seriously prejudice the interests of the players.
"Considering the stated position of the Deccan franchise to refuse to rectify the various defaults including payments to players, foreign Boards etc, as also the deleterious effect such conduct would have on the reputation of the IPL and the franchise itself, a decision was taken to forthwith terminate the Deccan Chargers franchise.
"The BCCI is completely justified in this action which was taken with careful deliberation and only due to the absolute inability of the franchise to effectively run the team."
The Deccan Chargers endured a miserable start to life in the IPL, winning just two matches and finishing at the bottom of the table in 2008, undergoing a remarkable transformation to win the title the year after.
They have subsequently failed to reach the semi-finals in three attempts.
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