Videocon in final stage talks with Kings XI Punjab for IPL franchise ownership

Putting speculations to rest,Videocon owner Venugopal Dhoot in Chandigarh today confirmed that he was interested in buying an IPL team on individual basis and his talks in that regard are in the final stage with Kings XI Punjab. The Kings XI Punjab consortium which is co-owned by businessmen Ness Wadia,Mohit Burman,Karan Paul and Bollywood actress Preity Zinta was rumoured to be up for sale by the end of IPL3.

It was during launch of Videocon mobile services in the city Dhoot talked about his passion for the sport and also the business opportunities he sees in buying an IPL team. Speaking on the occasion he said,”I have offers from many IPL team owners but at the moment it is with Kings XI that the final negotiations related to prices are going on. I would prefer buying the team individually and if negotiations do not work out I might opt for a stake rather than owning the entire team. I am a businessman,so I will try to get the team at a price that suits me the best.” Kings XI Punjab are lying at the bottom of the IPL 3 points-table. Further commenting on Kings XI Punjab’s dismal performance in this season,Dhoot said,”I know that the Punjab team has not done well this season but that will not deter my plans and interest of buying the team. Winning and losing is part of the game.” He also sided with IPL Commissioner Lalit Modi in regard of the Tharoor-Modi spat.