Kings XI Punjab to sell 93 pc stakes of IPL franchise

Owners of Kings XI Punjab, a franchised team of the Indian Premier League (IPL) has sought the permission from BCCI to sell its 93 per cent stakes to London-based private equities firm, ISIS. The consortium is owned by Preity Zinta, Ness Wadia, the Burman brothers Gaurav and Mohit, Karan Paul, and Aditya Khanna.

Earlier, the names of Malaysian energy giant Petronas and Indian electronics company Videocon have also been associated with the selling of the stakes of Kings XI Punjab but nothing has progressed beyond speculation. However, it is said that Preity Zinta will continue her association with IPL by keeping seven per cent stakes with her.

However, the franchise owners have to wait for the final approval from the governing council of IPL for selling the stakes.