3 major controversies in Punjab Kings' ownership in the IPL ft. Preity Zinta, Ness Wadia and Mohit Burman
Punjab Kings have been a part of the Indian Premier League (IPL) since the tournament's inception. Initially, the team was known as the Kings XI Punjab, but in 2021, the owners decided to rebrand the franchise as Punjab Kings.
Despite signing some of the best cricketers in the world, the Punjab Kings have never won the IPL. They qualified for the final once in 2014, where they lost to the Kolkata Knight Riders.
While the Kings do not have a trophy in their cabinet, they certainly do have a passionate fanbase. The franchise has been in the IPL for 17 years, and have also expanded their business to the West Indies, owning the Saint Lucia Kings in the Caribbean Premier League (CPL).
Be it on the field or off the field, Punjab Kings' journey has been full of ups and downs. There have been some major controversies in the team's ownership group as well. Here's a look at some of them:
#1 Preity Zinta vs Mohit Burman feud over Punjab Kings ownership after IPL 2024
First things first, Punjab Kings is owned by KPH Dream Cricket Private Limited, with Dabur group's Mohit Burman owning 48% of the shares. Bollywood actress Preity Zinta and businessman Ness Wadia own 23% of the shares each, while business professional Karan Paul owns the remaining 6%.
Two days ago, a report emerged online claiming that Mohit Burman wanted to sell 11.5% of his shares to an unknown third party. It is a common thing for team owners to sell their shares, but apparently, there is a clause stating that the shares need to be offered to the existing owners first.
Preity Zinta was reportedly unhappy with Mohit's intention of selling 11.5% of his shares (approximately worth ₹540 to ₹600 crore) to a third party. Hence, she has filed a restraining order to block the potential sale.
"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," a report by The Tribune read.
Notably, when Cricbuzz reached out to Burman for a comment on the issue, he said that he did not have any plans to sell his shares.
#2 Preity Zinta files complaint against Ness Wadia
In the early days of the IPL, Preity Zinta was in a relationship with Ness Wadia. However, their relationship ended in 2009. Five years later, Preity filed a complaint against Wadia, accusing him of molesting her.
Preity mentioned that Wadia grabbed her hand and abused her during the Punjab Kings vs Chennai Super Kings Qualifier 2 match at Wankhede Stadium in the IPL 2014 playoffs. The Bollywood actress even penned a lengthy note on social media, describing the incident in detail. Meanwhile, Wadia was in disbelief after learning about the complaint.
Later, Preity even claimed that Wadia intimidated her and said he could make her disappear. She alleged that Wadia was violent with her as well. The case continued for four years before Preity withdrew her complaint in 2018 and the matter was resolved.
#3 When the BCCI terminated Kings XI Punjab
Not many fans would know that the BCCI terminated Kings XI Punjab and Rajasthan Royals from the IPL ahead of the 2011 season's player auction. The board took action against the two franchises owing to franchise agreement violations on three counts.
It also included the issue of changes in ownership without informing the board. However, both franchises took the legal route, and the court ruled in their favor by putting a stay on the termination. Otherwise, Punjab and Rajasthan might have been expelled after the 2010 season.
The issues between Punjab's owners and the BCCI were sorted out by 2012, with the franchise agreeing to pay a ₹1 crore fine for the breaches.