All seems to be not right in the Punjab Kings (PBKS) camp ahead of the IPL 2025 auction. The franchise is reportedly facing internal turmoil since a dispute among its owners has reached the Chandigarh High Court.
According to a Cricbuzz report, actress and co-owner Preity Zinta has lodged a legal appeal seeking to restrain fellow owner Mohit Burman from selling a portion of his franchise shares.
Zinta, who holds 23 per cent share of PBKS, has claimed that Burman, the owner of 48 per cent share, is attempting to sell 11.5 perc cent of his stake to an unnamed party. Ness Wadia also has 23 per cent share, while the remaining are held by Karan Paul.
As per the internal agreement among the owners, any stake intended for sale must first be offered to existing promoters within a specific timeframe before being offered to external parties.
Meanwhile, Burman has denied any plans to sell his shares. "I don't have any plans to sell my shares," he told Cricbuzz.
However, Zinta taking legal route suggests a breakdown in communication and trust within the ownership group.
This internal conflict among the PBKS owners have emerged at a time when IPL franchise valuations have skyrocketed following the inclusion of two new teams in 2022.
The potential sale of even a partial stake in a franchise like Punjab Kings could have a worth of nearly Rs 540-600 crore, making it a significant financial decision with potentially long-term implications for the team.
The case is scheduled for a hearing on August 20. Attempts to reach Zinta, Burman, and Ness Wadia, another co-owner, for comments on this matter have gone in vain so far.
The Punjab Kings franchise is dealing with both on-field and off-field issues. Despite participating in the league since 2008, the team is yet to win the coveted trophy. In fact, they have reached the final and semifinals only once each.
In order to improve their on-field performance, the franchise is searching for an Indian coach to replace Trevor Bayliss ahead of the upcoming auction.
(With Cricbuzz Inputs)
