By Abhishek Manroa
NEW DELHI (TheSportsNext) September 2, 2012: The Indian Premier League franchise Deccan Chargers said Saturday that the negotiations to sell the team are at an advanced stage after the Board for Control of Cricket in India (BCCI) allowed it more time to sort out its financial mess by September 15, 2012.
Rajeev Shukla, IPL Chairman, told local media here that the Deccan Chargers, who had won the IPL tournament in 2009, have been awarded additional time to get back to the BCCI after sorting out their financial issues.
The Deccan Chargers are yet to pay their team-members who represented the franchise in the IPL5 (IPL2012).
The Deccan Chronicle group, which had acquired the franchise for 107 million US dollars in 2008, is facing massive financial crisis and have forced to mortgage assets of their team to the banks for raising funds but the practice was against the BCCI and IPL rules which put the team owners in hot waters.
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