Kings XI on sale?

However, co-promoter Wadias’ spokesperson clarified that there is no substance in reports relating to sale of stake by the promoters.

“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 Director of FMCG major Dabur, told PTI.

However, a Wadia Group spokeswoman said: “The news of 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.”

An identical statement was also issued by the Team management. Shortly after the high bidding for ‘Team Pune’ and ‘Kochi’ last week there had been speculation that promoters of Kings XI Punjab, whose performance in the latest edition of IPL has been dismal were seeking to exit.