<p>Baljee, who owns the Peppermint Hotels chain, is understood to already be in talks with the scions of the Dabur India promoter family, Mohit and Gaurav Burman, to form a consortium. Other investors may also join in.<br /><br />"Mohit Burman will be picking some stake in the Bangalore team, which is owned by Arjun Baljee," a source said.<br /><br />According to another person familiar with the development, Mohit Burman -- who also has stake in IPL's Kings XI Punjab -- is evaluating a joint investment in i1 Super Series along with brother Gaurav Burman after losing out to Arindam Chaudhuri of IIPM for the Delhi Team.<br /><br />Comments from Baljee could not be immediately obtained, while a spokesperson of the Burmans declined to comment.<br /><br />Besides the Bangalore team, Machdar Motorsports -- the organiser of the racing series -- has also finalised owners for the Chennai and Hyderabad teams, which will be announced tomorrow.<br /><br />Details could not be ascertained.</p>.<p>When contacted, Machdar Motorsports CEO Darshan M said an announcement will be made tomorrow regarding the development, but did not share details.<br /><br />The i1 Super Series is scheduled to start in January, 2012, and nine city-based teams in <br />India will participate in the racing competition that will be held in India, the UAE, Malaysia, Bahrain and Qatar.<br /><br />Bollywood actor Shahrukh Khan's KKR has already bought the Mumbai team of the league and Arindam Chaudhuri of IIPM has bought the Delhi team.<br /><br />Each team owner will have to shell out a minimum of USD 20 million over a period of 15 years for team acquisition.<br /><br />Machdar Motorsports is expected to spend around USD 5 million on marketing and advertising across media to promote the series.</p>
<p>Baljee, who owns the Peppermint Hotels chain, is understood to already be in talks with the scions of the Dabur India promoter family, Mohit and Gaurav Burman, to form a consortium. Other investors may also join in.<br /><br />"Mohit Burman will be picking some stake in the Bangalore team, which is owned by Arjun Baljee," a source said.<br /><br />According to another person familiar with the development, Mohit Burman -- who also has stake in IPL's Kings XI Punjab -- is evaluating a joint investment in i1 Super Series along with brother Gaurav Burman after losing out to Arindam Chaudhuri of IIPM for the Delhi Team.<br /><br />Comments from Baljee could not be immediately obtained, while a spokesperson of the Burmans declined to comment.<br /><br />Besides the Bangalore team, Machdar Motorsports -- the organiser of the racing series -- has also finalised owners for the Chennai and Hyderabad teams, which will be announced tomorrow.<br /><br />Details could not be ascertained.</p>.<p>When contacted, Machdar Motorsports CEO Darshan M said an announcement will be made tomorrow regarding the development, but did not share details.<br /><br />The i1 Super Series is scheduled to start in January, 2012, and nine city-based teams in <br />India will participate in the racing competition that will be held in India, the UAE, Malaysia, Bahrain and Qatar.<br /><br />Bollywood actor Shahrukh Khan's KKR has already bought the Mumbai team of the league and Arindam Chaudhuri of IIPM has bought the Delhi team.<br /><br />Each team owner will have to shell out a minimum of USD 20 million over a period of 15 years for team acquisition.<br /><br />Machdar Motorsports is expected to spend around USD 5 million on marketing and advertising across media to promote the series.</p>