Hero Honda buys Kings XI Punjab IPL team

TOI

NEW DELHI: India’s premium manufacturer of 2-wheeled motorised vehicles - Hero Honda on Wednesday reportedly bought Indian Premier League team Kings XI Punjab for a whopping $260 million. 

 

This is the first time an IPL side has been sold out. Earlier, Rajasthan Royals had put only 12 per cent stake on sale which was brought by Bollywood actress Shilpa Shetty. 

 

However, no independent confirmation of this deal has been received from both the parties. 

 

Hero Honda, which was looking to buy an IPL team, has taken over from previous owners of Kings XI Punjab - actress Preity Zinta, businessmen Ness Wadia, Mohit Burman and Karan Paul. 

 

The third edition of the IPL is scheduled to begin from March 12 and the Kings XI Punjab, led by Sri Lankan captain Kumar Sangakkara, play their first match against Delhi Daredevils on March 13.