Deccan Chargers' ejection from IPL

The cricket board said that all bids must be submitted before noon on October 25th. It also added that all bidding parties will need to fulfil the eligibility criteria and other requirements specified in the Invitation to Tender.

Deccan captain Sangakkara told Reuters in Singapore that the team, which also boasts Dale Steyn and Cameron White, were in the dark about their futures but was hopeful of a solution.

BCCI moved an appeal against the Order of Arbitrator and the same was heard today morning. The Hon'ble High Court was pleased to stay the Order of Arbitrator after hearing both the parties: BCCI.

BCCI had given the cash-strapped franchise until 5 PM today to submit the money, but the owners failed to do so.

The IPL franchise Deccan Chargers has been sold to a Mumbai based real estate firm, Kamla Landmarc.

The Deccan Chronicle Holdings Limited may face the axe in spite of having found a buyer for their IPL franchise Deccan Chargers.