India’s largest TV and Radio networks, The Sun TV Networks limited, introduced their newly acquired IPL franchise as the ‘Sun Risers’ looking all set to participate in the sixth edition of Indian Premier League.
It was Sun TV Networks who clinched the bid for the Hyderabad franchise at Rs 425.2 Crores edging past PVP Ventures’ bid of Rs 345.1 Crores after Deccan Chargers, winners of IPL-2, had financial issues with the players as well as Board of Control for Cricket in India (BCCI). The Sun Risers are now the third most expensive team in the history of the IPL. While the new team management has opted to retain the services of 20 players associated with the Deccan Chargers including skipper Kumara Sangakkara, South Africans Dale Steyn and Jean-Paul Duminy and Indian pacer Ishant Sharma, it will also bid for free agents at the auction to be held on January 12, 2013 at Chennai or on January 20, 2013 at Kolkata.
In August 2012, DLF ended its five year association with the Indian Premier League as the title sponsor. Pepsi Co. will now sponsor the T20 competition for the next five years.