The Indian Premier League (IPL) cricket season is still a few months away. The Punjab Kings (PBKS) team is in trouble. Co-owner of the team, Preity Zinta, has appealed to the High Court. The franchises are preparing for a mega auction for the next IPL season. The team owners are meeting with the BCCI. Several major decisions will take place during this meeting.
But major disputes between IPL team owners are coming to the fore. Recently there were reports of a rift between Kolkata Knight Riders owner Shah Rukh Khan and Punjab Kings co-owner Ness Wadia. Now a case of discord has come to light in the Punjab Kings franchise. This case of suffrage has reached the High Court.
Preity Zinta, one of the four owners of the franchise, has sought a restraining order against the second promoter. Preity Zinta has approached Chandigarh High Court in this matter. Where he has filed an appeal. In this appeal, they have sought to restrain co-owner Mohit Burman from selling part of his shares to any other party. Popular Bollywood actress Preity Zinta has acquired a 23 percent stake in the Punjab Kings franchise through KPH Dream Cricket Private Limited.
Preity Zinta furious over stakes sharing
Burman holds the highest stake of 48 percent in KPH Dream Cricket Pvt. Ness Wadia is the third owner. He holds 23 percent shares, while the fourth owner is Karan Paul. Their shares are outstanding. However, Burman, who is associated with Dabur Company, has refused to sell the shares. As per the rules, the existing promoters must refuse to buy the stake before it can be sold to any party outside the group.
Preity Zinta has approached the High Court to challenge this, with the hearing scheduled for August 20. IPL added two new teams in 2022, leading to a significant increase in franchise valuations. Successful franchises can now be valued between Rs 5300 to 5800 crores. In this context, the 11.5 percent stake could be worth between Rs 540 and Rs 600 crore. Consequently, franchises are fiercely competing for this substantial share.
