Bollywood actress and Punjab Kings co-owner Preity Zinta has filed a legal petition with the Chandigarh High Court to block her co-owner, Mohit Burman, from selling a portion of his shares.
Zinta’s petition aims to prevent the sale of Burman’s 11.5% stake, asserting that it breaches their internal agreement which requires any shares for sale to be offered to current co-owners first. The court has scheduled a hearing for August 20, 2024.
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Burman, who holds 48% of the franchise shares, has denied any plans to sell and disputes Zinta’s claims. Zinta owns 23% of the team, while Ness Wadia also owns 23%, and Karan Paul holds the remaining 6%.
The Indian Premier League (IPL), established in 2008 by the Board of Control for Cricket in India (BCCI), features ten teams representing various Indian cities and is known for its global popularity and significant financial impact.
Notable teams include the Chennai Super Kings, Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Gujarat Titans, and Lucknow Super Giants.
The league, valued at over $10 billion as of 2022, is highly competitive in terms of fan loyalty, sponsorships, and media rights.
