Deccan Chargers renamed as Sunrisers

Sun group unveils new logo of Hyderbad IPL team

Chennai-based media and television group Sun TV Network, the new owner of the Indian Premier League's (IPL) Hyderabad franchise today unveiled the name and logo of its team 'Sunrisers'.

The event marks a quick end to the unpleasant developments like non-payment of players' salaries which the team had to put up with under the earlier owner, Hyderabad-based Deccan Chronicle Holdings (DCHL), culminating into the termination of Deccan Chargers franchise by the Board of Control for Cricket in India (BCCI) in September this year.

The name and the logo, which is depicted with an eagle spreading its wings in the backdrop of a rising Sun, has been unveiled by the Sunrisers CEO K Shanmugam along with the team's mentor-strategic analyst and veteran cricketer Krishnamachari Srikanth and the teams official coach Tom Moody.

 

Past stars of Indian cricket from AP, Jayasimha, Shivlal Yadav and Venkatapathi Raju were present on the occasion in a symbolic show of endorsement for the Hyderabad's new team owners by the city's cricketing elite.

The Sun group would be retaining 20 of the 25-odd players in the earlier franchise and looking forward to bring possibly some all rounders into the team at the auction on January, 19, 2012, Srikanth said while adding that the Sri Lankan cricketer Kumar Sangakkara, who lead the Deccan Chargers team, would continue to be the captain for now.

The team CEO Shanmugam said by the third week of next month they would be able to disclose the names of the sponsors of Sunrisers. "We are talking to some of the prospective sponsors. We have our marketing strategies in place," he told reporters after unveiling the name and logo of the IPL team.

Sun group had won the franchise for around Rs 425 crore in a bidding conducted by the BCCI on October 25 beating the lone competitor, Hyderabad-based PVP Ventures promoted by film and real estate personality Prasad V Potluri. Interestingly, the bid amount, payable to BCCI in a ten a year tenure, is almost equal in rupee terms to the bid amount the DCHL offered for Deccan Chargers in the year 2008.
 
Sun Group earlier said it is confident of making the IPL franchise cash-flow positive from the third year onwards.