The Punjab Kings franchise is facing internal turmoil as a dispute between its owners has escalated to the court ahead of IPL 2025 auction. According to Cricbuzz, a rift has developed between co-owners Preity Zinta and Mohit Burman.
Punjab Kings owners locked in legal battle
The situation has intensified with Zinta obtaining a restraining order to prevent Burman from selling a portion of his shares to an external party. The Bollywood actress has also filed an appeal in the Chandigarh High Court regarding the matter. The ownership structure of Punjab Kings sees Burman as the majority shareholder with a 48% stake, followed by Zinta and Ness Wadia, each holding 23%. Karan Paul owns the remaining shares.
Punjab Kings ownership dispute continues
Recent reports suggested that Mohit Burman, a co-owner of the Punjab Kings IPL franchise, was planning to sell an 11.5% stake in the team to an undisclosed party. These reports claimed that co-owner Preity Zinta was unhappy with the potential sale. However, Burman has vehemently denied these allegations. In a statement to Cricbuzz, he categorically stated that he has no intention of selling his shares in the Punjab Kings franchise.
"I don't have any plans to sell my shares," he told Cricbuzz.
Preity Zinta takes the issue to court ahead of IPL 2025 auction
A serious dispute has emerged between Punjab Kings co-owners Preity Zinta and Mohit Burman. According to a report in Tribune, Zinta has initiated legal proceedings against Burman by filing a petition under Section 9 of the Arbitration and Conciliation Act, 1996. The move seeks interim measures to address the ongoing disagreements between the two owners.
“Preity Zinta said Burman holds approximately 48 per cent of the shareholding and is also on the board of directors. She has filed the petition under Section 9 of the Arbitration and Conciliation Act-1996 seeking interim measures and direction in view of the disputes and differences between her and respondent Mohit Burman,” the report stated.
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The ongoing dispute between Punjab Kings co-owners Preity Zinta and Mohit Burman has taken a new turn. Reports suggest that Burman is restricted from selling his shares to external parties without first offering them to the existing promoter group. The other promoters, including Zinta and Ness Wadia, would then have the option to purchase the shares before they are offered to outsiders.
While the exact details of the dispute remain unclear, with Zinta maintaining silence on the matter, the case is scheduled for a hearing on August 20.
The Punjab Kings franchise is grappling with both on-field and off-field challenges. Despite being in the league since its inception, the team has struggled to consistently deliver strong performances, reaching the final and semifinals only once each. To address their on-field woes, the franchise is reportedly searching for an Indian coach to replace Trevor Bayliss ahead of the upcoming player auction.
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