ViruRulez Posted April 9, 2010 Share Posted April 9, 2010 Mohali: Kings XI Punjab co-owner Mohit Burman has publicly accepted that the team owners are not happy with the returns in IPL when pitted against the huge investments, and are willing to sell it off, provided they get a good deal. “Yes we are planning or ready to sale the Kings XI IPL team provided we get enough takers,†Burman said. “We don’t have enough takers at the moment,†Burman told a news channel. Reportedly, Videocon, who had earlier bid ferociously in the recently held auction for two new teams and failed, are in talks for buying the Punjab outfit. Mohit Burman said the owners of the Indian Premier League franchise could look at selling the team if the valuation is more than USD 250 million. "The teams have now been auctioned for as much as USD 370 million. So why not, if we have a good offer that is substantially more than USD 250 million. But we have no offer... there is no buyer," Burman, who is also a Director of FMCG major Dabur said. However, a Wadia Group spokeswoman said: "The news of a stake sale by the promoters of KXIP is not correct. Kings XI Punjab continues to be co-owned by a consortium which includes, industrialists Mohit & Gaurav Burman, Karan Paul, Ness Wadia and leading Indian actor Preity Zinta." The latest news comes in the backdrop of Kings XI’s horrendous show in the ongoing third edition of the Indian Premier League. Preity Zinta’s team has been languishing at the bottom of IPL points table. The Punjab side had been bought for USD 76 million at the original auction Mohali: Kings XI Punjab co-owner Mohit Burman has publicly accepted that the team owners are not happy with the returns in IPL when pitted against the huge investments, and are willing to sell it off, provided they get a good deal. “Yes we are planning or ready to sale the Kings XI IPL team provided we get enough takers,†Burman said. “We don’t have enough takers at the moment,†Burman told a news channel. Reportedly, Videocon, who had earlier bid ferociously in the recently held auction for two new teams and failed, are in talks for buying the Punjab outfit. Mohit Burman said the owners of the Indian Premier League franchise could look at selling the team if the valuation is more than USD 250 million. "The teams have now been auctioned for as much as USD 370 million. So why not, if we have a good offer that is substantially more than USD 250 million. But we have no offer... there is no buyer," Burman, who is also a Director of FMCG major Dabur said. However, a Wadia Group spokeswoman said: "The news of a stake sale by the promoters of KXIP is not correct. Kings XI Punjab continues to be co-owned by a consortium which includes, industrialists Mohit & Gaurav Burman, Karan Paul, Ness Wadia and leading Indian actor Preity Zinta." The latest news comes in the backdrop of Kings XI’s horrendous show in the ongoing third edition of the Indian Premier League. Preity Zinta’s team has been languishing at the bottom of IPL points table. The Punjab side had been bought for USD 76 million at the original auction Link to comment Share on other sites More sharing options...
Zap_Brannigan Posted April 9, 2010 Share Posted April 9, 2010 I wouldnt believe anything that comes out of Zee regarding IPL. Besides wasnt this posted some 3 weeks back. Link to comment Share on other sites More sharing options...
ViruRulez Posted April 9, 2010 Author Share Posted April 9, 2010 I wouldnt believe anything that comes out of Zee regarding IPL. Besides wasnt this posted some 3 weeks back. I would not trust Zee but TOI is also posting it. They have confirmed to Times Now that at least 3 partners are looking to sell and they including Mohit Burman, Karan Pal and Ness Wadia. Preity is not interested but most others are it seems. Check this NEW DELHI: There seems to be more trouble for Kings XI Punjab as sources have confirmed to TIMES NOW that the Punjab franchisee could be up for sale. Sources said that three owners are interested in discussions of selling their stakes. Ness Wadia, Mohit Burman and Karan Paul are interested in selling their stake off. Meanwhile, co-owner Preity Zinta is very keen on staying on board with the team. Mohit Burman, one of the co-owners, who spoke to TIMES NOW doesn't rule out selling his stake if approached. http://timesofindia.indiatimes.com/iplarticleshow/5774826.cms Link to comment Share on other sites More sharing options...
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