The Deccan Chargers team will be called Sun Risers from next season, it was announced on Tuesday.
Sun TV Network, which bought the Hyderabad franchisee recently, have chosen this new name for IPL 6.
The Hyderabad franchise retained 20 players in their initial squad for the 2013 season of the cash-rich Twenty20 league.
Sun TV decided to retain six overseas players like Dale Steyn, Jean Paul Duminy, Kumar Sangakkara, Cameron White, Chris Lynn and Juan Theron.
The new owners have spent $5 million and still have a budget of $7 million in their kitty.
On Tuesday, the franchisee's official twitter account @Sun_IPL wrote: "Our team will be called as 'Sun Risers' from #IPL 2013. Spread the word :)"
Deccan Chargers, who won the 2009 edition of the IPL, was terminated by Board of Control for Cricket in India (BCCI) this year and in the auction, Sun TV bought the team.
Sun TV bought the team for a five-year deal which will be priced at a total of Rs 425.2 crores. In 2008, Deccan was bought for a price of $107 million (about Rs 428 crores for 10 years).
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