Thursday, April 15, 2010
Videocon Eager to Buy Kings Xii Punjab
Videocon are reportedly interested in buying the Mohali IPL team with the promoters setting an asking price of $ 300 million.
The franchise, currently co-owned by Dabur's Mohit Burman, Apeejay Surendra's Karan Paul, Bombay Dyeing's Ness Wadia and actress Preity Zinta, is languishing at the bottom of table in this year's IPL and is virtually out of a race for the semi-finals.
Sources indicated the final price is likely to rest around $280 million.
Reports suggest Videocon's chairman Venugopal Dhoot is eager to buy 'a minority stake in an existing team.'
Dhoot revealed to a Indian English daily that negotiations are already underway with the franchise: "We are negotiating the price."
The current owners bought the Mohali team in 2008 for $ 76 million (Rs 350 crore). However, Burman denied any plans to sell.