IPL Kings XI Punjab (KXIP) Owners: All you need to know about them
Kings XI Punjab is among the oldest franchises in IPL history and has been part of the tournament ever since its inception. The Punjab team is currently participating in the 9th edition of the IPL and has not got off to the best of starts, having lost 2 games out of 3. They played their best cricket in the history of the tournament during the 2014 season when they topped the league table and finished as the runners-up after losing to champions Kolkata Knight Riders in the final. Last year, though, KXIP slumped badly and ended up being the bottom-placed team in the league.
Ownership Summary of KXIP
The ownership of the Kings XI Punjab franchise lies with a company named KPH Dream Cricket, which is co-owned by actress Preity Zinta, businessman Ness Wadia, Karan Paul of the Apeejay Surrendra Group, Mohit Burman of Dabur India Ltd and Delhi-based company Root Investment. As of the year 2014, Mohit Burman held 46 per cent of the company's stakes whereas Preity Zinta and Ness Wadia had a stake of 23 per cent each. The other two stakeholders, Karan Paul and Root Investment, account for the remaining 8 per cent which they share in equal measure. In the 2012-13 financial year, KPH Dream Cricket had registered a profit of Rs 78.01 lakh.
Here's a closer look at each of the three primary co-owners of the Kings XI Punjab team:
Mohit Burman is a Delhi-based businessman who is the promoter and director of Dabur India Ltd. Apart from that, he is also the Managing Director of Elephant Capital PLC and has previously been associated with Aviva Life Insurance Company India Ltd as a chairman. Burman has completed an MBA in Finance from the Babson Graduate School of Business in Massachusetts, USA.
The 47-year old is a major sports enthusiast as he not only holds the largest stake in KXIP, but also owns the Pune Pistons franchise in the Indian Badminton League. Prior to this, he was also the owner of the Mumbai Magicians hockey team but sold his stake. Burman was briefly in talks with English club Reading FC for a takeover but the deal did not materialise.
A businessman who hails from the Wadia family, Ness Wadia is the Managing Director of the Bombay Burmah Trading Corporation. His firm holds stakes in most subsidiaries of the Wadia Group such as Go Air, Bombay Realty and Britannia Industries. Before this, he used to be the Joint Managing Director of Bombay Dyeing, which is also one of the companies owned by the Wadia Group.
However, Ness stepped down from the position in the year 2011 to make way for his younger brother. He has done an M Sc. in Engineering Management at the University of Warwick. Ahead of the inaugural season of the IPL in 2008, Ness Wadia bought a stake in the Kings XI Punjab franchise alongside his then girlfriend Preity Zinta, Mohit Burman and Karan Paul.
Preity Zinta is a popular Bollywood actress who has appeared in numerous films and won a lot of accolades for her performances. Preity was born on 31 January 1975 to Indian army officer Durganand Zinta and his wife Nilprabha. She attained an English honours degree from St Bede's College in Shimla and is a Post Graduate in criminal psychology. Following that, Zinta pursued a career in modelling and became a popular face on television after appearing in commercials for various brands.
She made her Bollywood debut opposite superstar Shah Rukh Khan in the 1998 film Dil Se. This marked the beginning of a pretty successful acting career which saw Preity Zinta establish herself among the top actresses in the industry. However, once her career started to lose steam, Zinta shifted her focus to other things which included co-ownership of the Kings XI Punjab. Since then, she has actively supported her team and has ensured her presence in most of their matches.