The Indian Premier League's Hyderabad team, which was bought by Sun TV Network, was named Sun Risers. The previous team Deccan Chargers was terminated by Board of Control for Cricket in India (BCCI) October and in the auction, Sun TV bought the team.
Later, the regional television network bought the Hyderabad Franchise for an amount of Rs. 85.05 crores per year for a five year deal. Sun TV, owned by the Chennai-based Maran group, put in the highest bid of 85.05 crore a year for the rights to the franchise in the lucrative Twenty20 league that was founded in 2008. Sun TV beat PVP Ventures, who offered Rs. 69.03 crore to buy the franchise. The franchise was initially bought by Deccan Chronicles for Rs 562 Crore in 2008.
The owners of the new franchise based in Hyderabad later to retain over 20 players who were originally a part of the Deccan Chargers team, including, among others, Kumar Sangakkara, Dale Steyn, Cameron White and JP Duminy.
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