NRI industrialist Vikas Rambal, who is sponsoring Champions League Twenty20 side Waca Warriors, has expressed interest in owning Indian Premier League (IPL) side Deccan Chargers.

The exact plans of Rambal, who brought Tom Moody to Western Australia Cricket Association (WACA) as coach by spending a huge sum and now sending Waca Warriors to India in December for the Champions League T20, is not yet known but he said he wants to share a pie of the cash-rich IPL.

"I am looking to buy an IPL team and will be working out the modalities. The IPL has been a huge success. We can build a brand value in Australia and at the same time work for community development," he was quoted as saying by the media.

"Apart from these, we will also be generating revenue from the venture," he added without divulging how much he would spend to buy the IPL team.

Perth-based Rambal, chairman of the North West Chemicals and Fertilizers, got into cricket sponsorship last year and has signed a three-year sponsorship deal with WACA Twenty20 team Waca Warriors.

The agreement also meant that the Champions League Twenty20 side will bear his name -- Rambal Warriors -- during the December 3 to 10 tournament in India.

Last year, he entered a landmark agreement to sponsor former Australian cricketer Tom Moody to stay at WACA as coach-cum-manager.

Rambal also feels that with players like Mike Hussey and Shaun Marsh in the ranks, his team have a good chance to win the league.

According to recent media reports, the owners of Deccan Chargers were exploring the possibility of partly or wholly putting the franchise on sale though no official was willing to confirm the development as yet.

This has led to intense speculation that Rambal may indeed make an effort to buy Deccan Chargers which almost finished at the bottom of the table in the inaugural edition of the IPL.