Indian Premier League side Deccan Chargers

went unsold on Thursday, adding to the woes of the organisers of the glitzy

Twenty20 tournament.

Deccan Chronicle Holdings, which had placed advertisements in newspapers

last week inviting bids for the cash-strapped Hyderabad-based team, received

just one proposal when the bids were opened.

The company “rejected the bid on the basis of the payment terms offered by

the bidder,” the Board of Control for Cricket in India (BCCI), which owns the

IPL, said in a statement.

The BCCI did not disclose the name of the bidder, how much money was

offered, or what the future course of action would be.

Deccan Chronicle Holdings, a media company that bought the team for $US107 million ($A102.70 million) before the inaugural IPL in 2008, has been ordered by banks to reduce

its debts, according to Indian media.

Among the leading players signed up by the franchise, which won the

tournament in 2009 but finished second-last this season, are Kumar Sangakkara

of Sri Lanka, South African fast bowler Dale Steyn and Australian batsman

Cameron White.

The rapid disposal of the Chargers has been widely blamed on economic

pressure affecting its current owners, but it also reflects the stormy history

of the IPL.

The BCCI threw the Kochi Tuskers out of the league last year over their

failure to meet financial requirements.

A separate attempt to eject the Rajasthan Royals and Kings XI Punjab in

2010 over murky ownership disputes was blocked after a court battle.

The BCCI is already reeling under last month’s decision by real estate

giant DLF not to renew its contract as the IPL’s main sponsor.