User:Vibhijain/Termination of the Deccan Chargers

Background
The Chargers were owned by the Deccan Chronicle Holdings Limited, which brought it for 107 million in the first team auction of the IPL in 2008. It was the third most expensive franchise at that time. They won the 2009 IPL under the captaincy of Adam Gilchrist, and in the 2012 IPL, they finished second last on the league table.

In June 2012, ESPNcricinfo reported that the team owners are planning to sell the team or a part of it, and a person "familiar with the development" said that Religare Capital Markets has been appointed to search for the buyers. Prior to this, the Rajasthan Royals were the only IPL team to sell at least a part of it; 11.7% stake of the team was sold to Shilpa Shetty and her husband Raj Kundra for 15.4 million in 2009. The next day, the team's former chief executive Tim Wright won the case of wrongful dismissal against the franchise in the Royal Courts of Justice. He was awarded £10.5 million and the legal costs. The court said in its judgement that there were several breaches by the Chargers, including not paying full salary to Wright.