Deccan Chargers' hopes of staying in the Indian Premier League is over after the Supreme Court Friday dismissed their plea against the termination from the high-profile league.
Last week, the Bombay High Court also withheld the BCCI's termination decision after the franchise failed to submit a deposit of Rs 100 crore.
Prior to that ruling on October 12, the franchise had also failed to find a buyer in an auction. Though the owners had claimed otherwise with this statement just before the ruling: "This is to inform you that pursuant to its Meeting of the Board of Directors held on October 11, 2012, it was resolved to authorize the Board of Directors to sell, transfer/dispose off the Deccan Chargers Franchise business undertakings/business division of the Company to Kamla Landmarc Real Estate Holdings Private Limited."
The BCCI terminated the franchise last month due to a severe financial crisis within the Deccan Chronicle Holdings Limited, the owners of the team.
The Chargers, who won the second edition of the league in South Africa in 2009, filed a petition in the Supreme Court earlier in the day.
With the Chargers' termination, the league is now left with eight teams. Last year Kochi Tuskers Kerala were also eliminated on account of a breach of agreement with the BCCI. According to reports, the cricket board will announce the names of two new teams in the coming months, before the sixth edition starts next year.