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Hero Honda deny buying stake in Kings XI Punjab

New Delhi: Hero Honda have flatly denied any information regarding buying stakes in Kings XI Punjab.

“The current media reports about Hero Honda buying stake in Kings XI Punjab is completely baseless and untrue,” a Hero Honda statement said on Wednesday.

“We have not had any discussion in this regard either. Hero Honda’s association with IPL as an associate sponsor of IPL and the main team sponsor of Delhi Daredevils team remain unchanged.”

Hero Honda’s denial means the IPL team continues to be owned by Preity Zinta, Ness Wadia of Bombay Dyeing, Mohit Burman of Dabur and Karan Paul. They had purchased this team in 2008 for 76 million dollars.

Hero Honda are the main sponsors for another north India-based team, the Delhi Daredevils.

The Hero Honda group had earlier been linked to picking up an IPL franchisee for the 2011 season, bidding for which will be done within the next two months.

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